The morality really doesn't matter in Hogwarts Legacy which is what I find odd.
As a student you can bunk off class and roam about freely attacking poachers, goblins, trolls spiders etc.
Later in the game you can learn the unforgivable curses and use them because it's quicker to get rid of an enemy with 'Avada Kedavra' than using a bunch of other spells. There's no punishment for this and going round killing everything in sight appears to be quite a good strategy.
So there's no advantage for making more moral choices and its ok to steal everything. I think this is the biggest failing of the game along with the lack of relationship building.