Well, a bunch of reasons:

First and foremost -- 1) Like Google it has a "see no evil" business model. ("If humans aren't in the approval loop, we're not responsible.")

2) Its behavior as a company is generally reprehensible (e.g. strong-arming state governments into not collecting sales taxes -- it wants to have its cake and eat it w.r.t. affiliate marketing)

3) Its business models reek of dumping (using profits in one domain to unfairly compete in others). The main difference is Amazon doesn't actually make profits, so it's burning investor capital to win new markets so it can burn more investor capital to win even more new markets, etc. (It will make it up on volume...) The fact that investors buy into this is odd, to say the least, but it's still pretty odious.

4) as a small publisher, I'm still ticked off by the way it allegedly "competes" in the ebook market. (Kindles are the hardest ebook readers on which to read ePubs, KDP does not in fact pay competitive royalties, but Amazon has bamboozled the tech press into believing it does, and even seems to have several governments helping it maintain its near monopoly on epublishing.)

5) Then there's the whole fulfilment / outsourcing thing (e.g. see here http://www.motherjones.com/politics/2012/02/mac-mcclelland-f... and the linked articles -- if you think Walmart screws its employees, Amazon et al are far worse).