I'm going to be brief but in a nutshell:
On morality, I agree with Gluttony Fang. I have long held the view that morality is not an intrinsic universal law, and have also learned not to talk about that view much as people tend to become very upset and defensive about it and assume that the unreality of morality as a universal law somehow devalues things like kindness. It doesn't. While I believe morality to be relative, rather like a concept of magnetic north that breaks down once you leave this planet, I also believe kindness and amiability to be the human being's (and other animals) default state. It is when a being has been perverted from this default state (by trauma of some kind) that cruelty manifests.
Discussion on morality tend to become knee-jerk very quickly, even if eloquent. Many people just don't like to come to terms with nihilistic reality. Often the term nihilism is associated with an utter abandonment of care and responsibility, as does the term anarchy. This is not the case. While I cannot support the idea of an intrinsic "right" and "wrong" (who says?) I behave in life very "morally".
The Tao Te Jing is a very good read, which iterates again and again the perils of applying arbitrary judgement on things.
So - griefing in Elite Dangerous...
In life, if a person griefs another, or let's say for the sake of argument decides (perhaps unconsciously, as a result of being perverted from their default state of kind amiability by something) that it makes them happy to cause others harm, other people tend to do something about it. Let's say for the sake of argument that this was in a strange faraway land that no-one has discovered where there are no laws at all, a true anarchy where everyone is a true nihilist, non dualist being. Someone decides that they like to eat babies, plucked from the arms of the mother. They find it fun. It makes them happy to see the distress that they cause. They are strong, and the parents of these unfortunate babies are seldom able to fight them off - they usually die trying. Very soon in this lawless land, people will decide that this will not do, it disturbs their happiness too much. They will gang up and kill that person. This happens all over the world where authorities do not act well enough btw.
The unreality of morality does not mean the unreality of consequences.
In Elite "Dangerous" this isn't happening. It's a game, the consequences of actions are just not real enough, don't touch us enough (quite rightly, it is a leisure pursuit after all). So some noob got griefed. Shame, but hey. 1000 noobs got griefed, oh that's terrible, but hey. The actual harm done is the rebuy screen. No actual blood, no actual death, no actual mourning family. No one to want revenge.
Instead of asking for more consequences from FDev, we could accept the hard reality of an uncaring universe and do what people do in the world - gang up, and get revenge. It's not "morally right", it's not pretty. It's a choice, same as any other, and it comes with it's own consequences. Like in life, revenge leads to a cycle of consequences.
Revenge isn't the only response of course. A griefer may get off on the attention.
My two cents worth
Edit: Despite my philosophical agreement with Gluttony Fang, I just re-read OP's original post. I also agree with him. Judements, while not having an intrinsic universal truth about them, are also a part of what we (and other animals) do. It's a part of our make up to judge things - bananas are a "good" food, dung is a "bad' food

. The mistake is in thinking those judgements mean anything beyond the practicalities of nutritious or foul tasting stuff to eat. But yeah, a true griefer intent on repeatedly killing players with no RP, no goal other than to cause grief DOES blow hard. As do sociopaths and narcissists in RL. It's empty, inane - that's not a value judgement btw.