Absolutely not.
Their goal is entertainment and ratings. Trump has a reasonable chance of providing that.
If you're a Trump critic, there's a reasonable chance that it'll backfire and hurt his reputation.
There are some circumstances under in which it would be immoral to allow someone to host, but that would have to be extreme circumstances (IE- Bill Cosby)
Bill Cosby is an idiot, but "morality" has no place in the modern media world.
Anyway, SNL should be thankful Trump is hosting, considering its been steaming hot garboni for years now.