Why does that 'sound' unhealthy? If you want to actually lose weight and eat healthy you need to change your lifestyle, not do a diet here or there for a week or 2.
The more you exercise the more you can get away with eating!
(Sure if you are 5'7 and weigh 150lbs, that would be unhealthy for a year, you don't need to lose 50lbs. But that would be just fine for someone that is overweight)
Exercising to the point of burning >1000 calories is not trivial. You're basically committing to run like 8 miles just for that amount. Then you'll still be hungry with the additional food.
Your BMR is far more important to weight loss than what most people can do with exercise.
I guess I'd rather exercise than starve myself. :)