Idk, maybe it's just semantics. But to me it's a tool and it's the inherent systems that are bad.
Many people who actually do the gig work would argue positive examples like they wouldn't have had the opportunities to do the work, as they have chronic illness that prevents them from working at random times or they are able to work just enough to provide supplmental income without accidentally losing benefits.
The tool is exploitave because these scenarios exist and there are people to be exploited. It's not causing these scenarios, it's taking advantage of them. Its a symptom.