Clearly the system has vulnerabilities. Billionairs managed to exploit these. Asking whether this is good or bad is liking asking if hacking is good or bad for society. If vulnerabilities exist someone will exploit them, thats the arbitrage.

Instead of hating the hacker, we should ask can we have a system that is not vulnerable to"exploitation", which naturally leads to the old Capitalism vs Communism debate.

Capitalism is still the most decentralized system we have, if a worker is feeling exploited they can leave and work elsewhere but most importantly they have the option of starting their own business and utilize their skills. But capitalism's main vulnerability is that of investors that can buy up whole industries and collude and bring centralization.

Communism is inherently centralized, only works on a small scale like a village, on larger scale it requires strong leadership that can resist the temptations that come from centralized power, but strong leadership doesn't last forever.