canonical URLs might be an option here. And even that after second thoughts, to rank on slightly different keywords it wouldn't be efficient.
And yes it is definitly duplicated content, exactly the kind of practices which were targetted in the very first version of Panda.
To answer your question on big corporation. If you look closely, you don't find much of those kind of pages in serps anymore, not as much as you used too.
That said, have a look at freelancer.com which is doing something similar on most of the technical queries you type (it is one of the most annoying result ever if you ask me).
[EDIT] Btw, i meet this problem once and the solution i didn't dare to put in motion because of its dirty side and lack of return on it, is to used a different charset for caracters like seo20's spinning tools. So you'll have an unique page for each keyword content wise. However, how efficient could it be ? Using this method on a money site is quite risky, if you ask me.