We have already had some instances of hat farming, such as:
So far it's pretty harmless, sometimes even constructive (many suggested edits), but how far should this be allowed to go?
Obviously not. I see nothing wrong with obtaining the simpler ones or those available through chat as stars can easily be cancelled and trivial stuff is always starred anyways but I would strongly discourage anyone from hat farming on the main site and disrupting the normal flow of things. We've seen one such instance already so let this be a warning to anyone thinking of doing this.
As such the normal site rules still apply, so anyone caught abusing their site privileges to close/delete questions, push trivial edits or farm reputation will be in violation of this.
In the FAQ it says
All normal site rules still apply. If you get suspended, you're disqualified from hats for the duration of your suspension. If you're caught sockpuppeting for hats, you will be suspended, just as you would be normally.
So questions like "Dont look at this" that are just for getting hats should not be ok but hat collecting like that link to the chat are fine as they don't greatly affect anyone.
And as you said increased edits are a good thing.