HN itself and startup culture celebrate breaking the rules and laws to earn money. It is ok to break the law if you are rich enough. People here were defending gambling apps despite all the shady stuff they do just a few weeks ago.
The white collar crime was barely prosecuted before, now the DOJ is loosing even the ability to prosecute it. So, I think the effect you worry about already happened, long time ago.
And frankly, with HN praising Uber, Tesla and the rest of SV constantly breaking laws and rules companies, again, those students are practically saints.
OP worried about this:
> Once a critical mass of people start to feel that way (if they don't already) it'll have a devastating effect on society.
Trump winning second time, the people who lead government and GOP, the critical mass thing already happened. There was no moral already among significant share of population. Trying to pearl clutch over students is almost funny in that context.