Blizzard has done more than they had to. Understand this. Blizzard is a single part of a collective amount of businesses that operate in the brand "Activision Blizzard". The people at the top have a legal obligation to act in the best interests of the company's financial interests. China's gaming market happens to be the most lucrative PC gaming market in the world.
Despite anything that any Blizzard executive believes to be right regarding the Hong Kong crisis, they have no power to act on it without risking losing their careers. Blizzard's department is required to think globally in terms of geo-politics. Banning Blitzchung was the most they could do to please their Eastern Market, and now restoring his prize money is the most they can do to please the Western Market.
They could win nothing in this scenario, but don't grab your pitchforks and act like Blizzard somehow has the power to end the tyranny in China. Instead let the characters they create in games like Diablo, Warcraft, and Overwatch be infectious to the massive fanbase in China that maybe will inspire people to stand up against the regime or awast change their minds about what is right.
Blah blah blah "if I lapdog enough the big boys will notice me" blah blah blah ---
