The way we assess evil is to determine long term outcomes.
No, they would not be enormously profitable if they treated their workers much more considerably. It isn't only their workers they treated badly. It is their suppliers, etc. It simply isn't possible to be fair in paying people a fair value and be that enormously profitable. It is possible to be a little profitable but not to the extreme that the billionaire class is. That's where the math gets lost.
I once asked my father a question (long forgotten the question) but I have never forgotten the answer. "You are asking the wrong question."
And you are asking the wrong quesiton. it simply doesn't compute. It is impossible to get that rich and not harm people along the way.
Yes, economc competition is inherently evil, because people should not be competitive. If there is a winner, then there are losers. Why not simply share? Why not coperate?
The idea that people wouldn't be inventors or innovate, etc. if they aren't competitng isn't true. Or rather, it works in areas where tasks aren't complex. The minute tasks are complex, competition begins to impact negatively. One cannot be highly stressed and do math. The brain can't do it. One can, however, swim a race because the brain isn't involved.
You say so long as it makes people happy to be that rich, they should be allowed it. Well, it makes many, many people unhappy because the way in which those people achieved that wealth impacted negatively on them. 75% to 95% of the world's workers hate their jobs for a reason.