Two points.
First, I'm pretty sure there are women out there who would definitely take this deal in a New York minute ... and ... they aren't really the women you want raising your child.
Second, look at it from the child's point of view at say, at age 18 when he/she learns the truth. "You mean I could have had a dad? I could have been part of a whole family?? But you didn't love me enough to be my dad???" Pretty much a guarantee of an F'ed up relationship with your child once they learn the truth.