Annabelle the Doll is the titular main antagonist of both, Annabelle and Annabelle: Creation.
Annabelle is a doll who is possesed by a powerful demon who had made a pact with with the Higgins Family that they let the demon in the doll and they would have their daughter Annabelle back as a ghost. But they realised that it was a trick and it wasn't her daughter but the demon itself who was now possible to interact with the physical world. So it hurt Mrs.Higgins and they locked it in a closet with religious speaks and holy water. But later it got freed and continue it's spree killing.
It is a demon who uses all of it's powers to kill people.
It goes on killing sprees and likes to torture it victims physically and mentally, killing them in a brutal and disturbing way. It killed more than the other demons in the franchise and the corpses of it's victims are even onscreen. Like killing Mr.Higgins in breaking his fingers when he want to banish it with a holy cross and hanging Mrs.Higgins like Jesus Christ and cutting her lower body half. Also mentally torturing Janice because it knows that she is weaker and can't defend herself because of her broken leg. Later even causing that she is completely disabled and can't walk anymore and possesed her, destroying her entire life.
MORAL EVENT HORIZON
Yes, when it kills Mr and Mrs Higgins in a brutal and disturbing ways and using Janice as a puppet, but before that mentally destroying her and use it's chance because she has a broken leg and can't do much, even causing that she becomes completely disabled and can't walk anymore.
It uses all of it's demonic superpowers and possesing abilities to do the crimes and murders.
It is shown that it knows what is right and wrong, because it is showing intelligence. Like I said, it knows that Janice is weak and can't defend herself or run away that easily because she got a broken leg, even make her completely disabled so she can't walk anymore.
NO REDEEMING QUALITIES
Not at all. It uses the credulity of Mr and Mrs Higgins to interact with the physical world, because it knows that they missing their daughter and would do anything to bring her back. Using it to it's advantage.
Like I said it shows no empathy or anything towards those it hurts or killed. Using innocent and broken people with a tragic past to succedd in it's plans. Even destroying the mentality and life of a little child.
Most of it's killings are presented onscreen, often in horrible and disturbing ways.
The thing is Valak and Mrs.Sherman are also very vile and heinous. But the demon in the Annabelle Doll is terrible in it's own way. The kills are more presented onscreen and more disturbing than the kills of the other two, who are always offscreen but the affect of it onscreen, and it has the highest body count from all of the three. And it stands out from the other two because it is using an innocent and scared child to succedd.
The Story is a standard horror movie with some shock effects and paranormal activities.
So it's a clearly "yes" for me.