This only works if you accept money from every devil that passes you by. If the majority of your funding comes from one devil, it doesn't matter how perfectly normal the underlying business transaction is - the moment you get in the way of your devilry, you're out a job.
Mozilla is a good case study in this: they are financially dependent on Google money to continue browser development. Google hasn't actually intervened in their affairs a whole lot. However, they could, which is why they're going through all sorts of self-inflicted harm trying to get away from their business of selling a browser default to a search engine.
Public companies are even worse, because what they are looking for isn't money, it's more money, or "growth". This is why a lot of American media companies suddenly got really quiet about certain kinds of atrocities committed by certain governments. If you call the devil out on concentration camps full of Uighurs, then maybe he doesn't buy your paintings anymore, and then you're out of the painting biz.