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I think people get too worked up over the exploit term and tend to assume it means the same thing as cheating which it most definitely does not.
Exploiting is not a bad thing. It just means you are taking advantage of something such as using 2 psn accounts which is requires you to do nothing other than sign into the other account. Psn is designed to work this way and they knew it. If the developers had a problem with this they would have done something to prevent it. I really doubt they care what people do with their game as long as they enjoy it.
Cheating on the other hand is frowned upon and requires irregular activity on the user's part. Such as the changing of save files to make hybrid cars. Things like this are dishonest, and can negatively effect others if it were possible online. However many people seem to think anything other than how they feel it should be is cheating, i.e. using skid recovery and active stability. Those people don't know what the hell cheating actually means and or they just want to feel superior.
Exploits = not bad
Cheats = bad
People's own definitions = retarded
Well said.