Seriously now, it's just a 150-pixel-wide, 10-pixel-high tiny string of text giving credit to the hard-working people of Jelsoft for making vB. Unless you want to pay $600, keep it in there.
You can remove " - powered by vBulletin" from the page title, though. Also the text doesn't have to be in the footer, it can be in the header too. As long as it's visible on all pages.
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