I agree and understand, but personally I would prefer to have my work compatible with the existing commons than worry about potential misuse.
For example, if you took a photo and released it under some kind of a 'do no evil' license, I would not be able to incorporate it into a video with any creative commons CC-BY-SA music, which is how I usually work, because your license prevents me from releasing it under CC-BY-SA, for anyone to use for any purpose. Even without the music issue, I would still be forced to release my new video under either All Rights Reserved or the same 'do no evil' license - I could not use a creative commons license as that would provide the potential for somebody further 'downstream' to end up remixing my video for evil, which means your photo is then used for evil.
So disregarding the extreme difficulty of defining and enforcing such a license, it creates a messy legal tangle where most people (and certainly all organisations with a legal team) would simply be too cautious to touch anything with a 'do no evil' license, meaning that the fertile, evolutionary potential of open source is rendered useless.
Here's a nice little on-topic anecdote: "IBM may use this for evil"
My personal opinion is that, yes, it's worthwhile looking into the topic, but I am extremely sceptical that you will be able to come up with an elegant solution which is definable, enforceable, and can at the same time grow a healthy, interactive and useful global commons. So by all means try, but it's going to be damn hard. Far too hard for me, so I will spend my time on other issues. But if it's important to you, go for it.