Depends on what you consider baiting and whether or not its legal.

You can bait fish.

In some places you can bait big game including bears and deer.

You can bait mouse traps.

Most all of these are with the intent to kill the baited.

If you consider that coyotes are for the most part considered non-edible predatory pest animals I guess you would have far less moral or ethical issues with baiting them.

Wouldn't bother me a bit, in fact we often set up near a dead cow or livestock at night for the sole purpose of shooting coyotes.