The thing about having morality-based restrictions to the license is that there is no well defined legal standard for good and evil.

Creating such license will indeed discourage lawful corporations from making use of it because of the legal uncertainty.

It will discourage open source projects for making use of it because it's not open source and it's incompatible either from a legal or philosophical standpoint.

The only ones who would not discourage would be the ones you actually want to prevent using it since they would likely not care about the license terms at all and just use it regardless.

The end result would be essentially a dead project that would be either ignored by the programmer community if it started out with this license or be forked like what happened when other open source projects switched licenses example redis being replaced by valkey.