I do understand that players with low ratings are inferior to those with higher ratings.

But I guess, THIS is not a reason to abort a game that is already in place. 

If hubristic players do not want to play with mediocre players, may I remind them that there is a setting that they can change to their liking. 

Good fact mate.

calling the attention of chess.com!!! 

I found this on a similar thread. Hope this might help!

Chess.com International 

With each game you play without keeping your opponent waiting, aborting the game or disconnecting from the game, the restriction will lower.
After playing games fairly and without breaking the policy, the restriction will stop and you'll be able to play normally again.

btw may I know the reason why there is an "abort" button to begin with? :D

There's an abort button incase you screw up, pressed the wrong seek, accidently make a game or if it's unrated and u want rated etc.

Why not change it to "Screw Up" button?

Or better yet "IDIOT" button! lol!

The fair play policy tries to make sure that frequent aborters get restrictions and this seems to have decreased the number of abort & abandon incidents. It probably has a learning curve.

How does fair play policy works? 

Is there a minimum number of "abortions" before you get flagged?

They do not disclose the exact algorithm but it should be something like that, yes.

You can find official information about it here:

http://support.chess.com/Knowledgebase/Article/View/171/0/fair-play-policy

I have just aborted two games against a player I have played eight times. Surely that's all right? As far as I know the games came up randomly and I would rather play someone else.

NEW GAME (372857495) - akapora vs. CardinaldeAjedrez (10 0 rated) (win: 17, draw: 4, loss: -9)

GAME ABORTED - akapora vs. CardinaldeAjedrez

akapora has left the chat.

Another "abortionist"!!! :D

GAME ABORTED - anathemaniac555 vs. ErickTal

NEW GAME (374292250) - blackpurl vs. ErickTal (10 0 rated) (win: 168, draw: 34, loss: -99)

GAME ABORTED - blackpurl vs. ErickTal

hubris [ˈhjuːbrɪs], hybris