It very much is. The more you put in the more you get out. From a financial accounting standpoint, the money you put in goes in a “trust fund” that is constantly borrowed against. It was never suppose to be that way. Social Security taxes is not allocated for current retirees. It just goes in the general budget.
It is not a personal account where what you put in is yours. You don't have a balance that runs down to zero if you live too long.
"The more you put in the more you get out" is only because that is how your benefit is computed. It is not because there is a certain amount of your money somewhere.
Related: your benefit is calculated on your 35 highest income years, not the total sum of your contributions. [1]
Other thing worth noting: the AARP page about SS myths that literally says: "Myth #7: Social Security is like a retirement savings account." [2]
The trust funds for social security are used to pay for everyone's current benefits and the rest is invested [3]. The fact that it's supposed to remain solvent still doesn't make it a retirement account.
Yes: it feels like a retirement account because you pay in now and (hopefully) cash out later. But that is only a feeling.
And finally, I started my GP comment with "nit" as one of my first three words because I understand the distinction is somewhat hair-splitty, but it is still real and relevant to how we think about it.
1- https://www.forbes.com/sites/ebauer/2020/11/11/social-securi...
2- https://www.aarp.org/social-security/myths-misconceptions-ex...
3- https://www.ssa.gov/oact/progdata/describeoasi.html