It could work, but it's a lopsided feedback system: EA can't count the number of people who didn't buy their game, they can only count the number of actual purchases. So, voting with your wallet leads to underperforming sales numbers, which they'll rationalize to be based on anything but the insulting ways they try to extract additional money from their players, or the myriad of ways they treat their fan base like idiots.

They learn the wrong lessons, assuming the franchise must be at fault, not the mechanics that make the game loathsome.

Why would it not work? It's just that you need enough people to vote :)

I do believe in this case it's not going to work - I don't imagine among gamers there will be a nearly enough boycotters.