I never made this claim, as ethics in this case is subjective: some things are ethical in some eyes and unethical in others, and profitability is the mechanism of reaching consensus between these views.
Your point about transparency is valid, I have to admit. However, I don't think that it applies in the case of food production: most meat and animal products consumers are well-aware that in order to get meat, you need to kill someone, and if you want to keep milk and eggs as cheap as possible, you can't afford to treat the animals well.