To operate an induction motor (that is what a shaded pole motor is) as a generator, requires some sort of initial excitation.
There are many circuits that describe how to do this using the motor's magnetic remanence and external capacitors, but all of them are three phase motors (even though one only taps a pair of windings for the single phase output).
And to FvM's point, small induction motors, have terrible, terrible efficiencies.
Also, an induction generator cannot provide lagging power factor, which discounts many applications.
Having said this I have actually built your idea out of curiosity, and for the same reasons you state. It was an interesting project, but in addition to the pitfalls I mention above, on a generator for which you cannot independently control the excitation, via a separate field, the resulting waveform disturbances will be far larger than what you get from the powerline itself.