I'm not really on any particular side of the fence, I tend to take a more nuanced approach to things. I also think that sometimes it's better to rethink yourself.
For example, on the one hand you could say, "I'm not going to do it because I think it's unethical."
But, for myself, I'm more inclined to say something like, "I'm not going to do it because there's no challenge, it's like shooting fish in a barrel."
It's the SAME action, but the REASONING is different.
That's why I try and avoid pure moralistic arguments because... they're lazy and often don't hold up well. It's like saying, "Don't do this thing because it's illegal."
That sounds good in theory... except when you factor in people who do illegal shit on purpose, people who ~want~ to do illegal shit, or people who try and justify doing illegal shit.
That's why, saying something isn't moral isn't really much better than saying something is illegal, neither makes a very good argument on the whole.
It used to be a bit different in that the greater whole of society was more religious and, as such, you could use moralistic arguments, but that adherence was largely a product of FEAR rather than any genuine sense of logic or reasoning. The whole... "be moral or you risk going to hell"... morality through fear can be effective at curbing certain actions... but it's not a tactic that holds much weight in "current year" in the society in which we live.
When it comes to my particular brand of trolling I'd say I focus more on the morality of the one being trolled, rather than any sense of morality within myself. I tend to want to do bad things to bad people. A destructive lolcow with no remorse and no interest at all in bettering themselves, who continually doubles and even triples down in their stupidity will get absolutely no pity from me, regardless of their mental state.
Take, say, Chris Chan for example... he's obviously borderline retarded, but beyond that... Chris is a terrible person. I mean I've known or met several dozen retarded people in my lifetime and... none of them ever acted like Chris does. So in his case, if people want to troll the shit out of him... yeah, I don't much care. I don't think it's particularly noteworthy or any sort of challenge to troll the little idiot... but I'm not going to begrudge anyone who does... unless they're like an A-Log type trying to deflect attention away from their own shortcomings.
The other thing I usually take into consideration is self-awareness. Like you can do weird, crazy, spazzy, stupid shit and... so long as you recognize that it's weird, crazy, spazzy, stupid shit... yeah, not gonna bother with trolling someone like that. But if you take someone who is doing weird, crazy, spazzy stupid shit and they're actively trying to normalize it or inflict it upon the masses or they take it waaaaaay too seriously... yeaaaaah, I'm gonna troll the shit out of them.
Just on a general level I don't like people who take shit too seriously, but then you combine that sort of thinking with obvious satire, parody, irony and absurdity... and it's like someone just walked into the room and took a great big fuckin dump right on the floor. There are few things that truly offend me, but absurdists trying to take themselves seriously, effectively destroying the entire nature and fun of being an absurdist... yeah that annoys the hell out of me.
Same thing with people who act like a spaz. Like the difference between someone who likes to watch a little anime, a TITular "man of culture" if you will... and some stupid fuckin weeb ass dipshit who treats it like a gawd damn religion.
Back in the day, when Formosa's Law was most actively recognized, it was largely used in relation to "support groups". Like, it was okay to make fun of suicide let's say... but not ~in~ a suicide support group. The moral consideration I think, at the time, was centered less on the individual and more on the locale.
The "current year" problem with that though is Meepsheep's Law... where, for example, /pol/ boards were once largely based on ironic/absurdist shit posting... but have since become gathering places of insane nutballs.
And, as such, is it really a good idea to continue ironic/absurdist shit posting in such a transformed environment? Personally... I think no. In general most people would probably find it immoral and on a personal level I tend to see it more as "bad form".