Interesting question. We see this pop up at ARCA from time to time. I think the role in question meets the technical definition of a role pretty clearly. As it stands, it is basically a parking lot for exclusive ownership of the domain granted to it, but it does not do anything else. To me, that's its current implied purpose. I think the role would be a lot better if it at least had a fundamental accountability ("Taking reasonable steps to adequately serve as a steward for the role's domain," or something), but that work is technically already required by Constitution 4.1.2(c) of version 4.1. So, basically, I think this is sub-optimal but fully constitutional. If it meets the needs of the circle for now, it probably works as is.