Morals, ethics, principles - usually stem not from a set of rules and threats, but from respect for oneself and respect for others.
I never found that JWs instilled that type of respect.
Like most cults, they first tear down the individual in order to rebuild them in the desired image. You're constantly told you're not good enough, not doing enough, always falling short of the mark. Your natural desire for friends, recreation, school, learning, entertainment, and your natural curiosity about the world around you - all the things that build self-esteem - are thwarted at every turn and you're made to feel guilty about even having those desires.
They teach suspicion, distrust and avoidance of everyone else in your life - they cut off the "exits."