I.e. you hurt the retirement funds and people owning ETF's (the largest Blizzard shareholders are Vanguard, Fidelity and Blackrock, through their ETF funds which track e.g. S&P 500 so would not/ could not divest Blizzard because of that, nor would attempt to control the company), and do not hurt the particular company managers who are actually making the unethical decisions.

Owning stock means being responsible for the companies actions, the fact most people want to passively invest is part of the problem.