I never made this claim, as ethics in this case is subjective: some things are ethical in some eyes and unethical in others, and profitability is the mechanism of reaching consensus between these views.
Your point about transparency is valid, I have to admit. However, I don't think that it applies in the case of food production: most meat and animal products consumers are well-aware that in order to get meat, you need to kill someone, and if you want to keep milk and eggs as cheap as possible, you can't afford to treat the animals well.
Sorry, you're right. That's what I took away from your claim that profit encodes a signal for ethicality. I still am not sure I agree with the idea that profit represents a consensus for whether or not something is ethical. Specifically _because_ money is involved it seems like the equation is muddied.
In the food production case, more ethical choices often come with a higher price tag. E.g., I believe that cage-free eggs are more ethical, but when I was broke I would buy the cheaper eggs because I was financially incentivized to do something I found less ethical, if only in a small way. And even now, if I am in a rush to buy eggs and the store is out of cage-free, I'll still make the less-ethical decision to do what is cheaper (in terms of energy). I wouldn't say that people's ethics are determined by how much money they have, but rather people may believe that one product option is more ethical than another, but considerations about money and convenience make them sometimes behave less ethically than they would without those constraints.
Also, isn't ethics always dependent on circumstances you're in? For example, stealing is wrong - but many would argue that stealing to save you or your kids from hunger is ethical. That's the same kind of choice you're making when you choose to buy cheaper eggs when you can't afford cage-free.
You, as a consumer, directly dictate to companies what is profitable and what's not by what you choose to buy and what you choose not to buy. Dichotomy of profit and ethics doesn't make any sense: profit is a signal which among other things also includes information about what consumers think if ethical or unethical, and how important it is to them.