You're correct in saying it's not fair on that child, because it's not fair in the slightest. But like I said, natural selection will eventually put a stop to that particular bloodline's continuation.
Except in areas such as Africa where people actually have to be capable of surviving to survive, natural selection does not really occur in the human race anymore.
I would completely agree. At our techinological level, genetic diseases won't disapear natural. As far as the ones that are life threatening and could cause the potentional offspring to die young anyway, I would think it better to prevent that from happening.