IMO, baiting is part of the game.. like MBP said... you're not gonna do that shit in a scrim/match because they'll replace your ass sooner than later.

However, for a pub... I can't see how it should be a punishable offense.
Example: Picture a CT with an AWP on Dust2. The CT is by the double doors in middle, towards Bomb site B (in an area he can snipe catwalk and listen to footsteps in the tunnels).

Picture this, 2 terrorists - ME and Man bear pig. Going by something as easy as sound, or radar. I can normally tell where people on my team are dying, or just by common sense, i'll know where an enemy Awper may be positioned.

If me and MBP are both running through double doors to go either thru CT spawn or to Bomb Site B. You can bet your ass I will let him go first and take the bullet, or atleast make the awper miss. It is at that time i will pop out.

Baiting? Yes.
Punishiable offense? Don't think so... more often than not, i'll let an idiot teamatte of mine run first... It's more fun that way =)