I fail to see how the fact that other people might be willing to do this research changes the ethical propositions at play. You are responsible for your research! Especially when you know what it is going to be used for. Refusing to do the research yourself might not stop it, but you refusing loudly, and convincing a couple people around you to not do so, adds up over time!

You are of course correct that the best thing is to institutionally change things. But the institutional changes are usually pushed for due to actual public pressure.