To add to the argument:

5. Voting with your wallet hasn't worked so far. Why limit yourself to a tactic that is proven ineffective? Corporations don't limit themselves this way - they lobby and obfuscate and sometimes outright lie [1].

6. Regulation is how citizens organize. Corporations don't rely on employees just voluntarily doing what benefits the corporation - they fire them if they don't. "Vote with your wallet" means to throw away your rights and duties as a citizen, and retain only the meager powers of a consumer.

[1] https://www.bbc.com/news/articles/c3dr91z0g4zo