Three wheeled cars used to be made to bypass the definition of what a car is and avoid needing to be subject to crash testing and other safety regulation. My parent's home is a complicated 'single-unit condo' which is as far as I can tell, basically a lie to get past regulations on building new houses.
I guess my point is, if you agree that the law is good then you should not want the definition to be easily bypassed with a loophole, and having something that's flexible helps a lot with this. And if the law is bad then you'll be glad for one though it makes things silly compared to repealing the law.
And if you see someone using a loophole for a law you like, especially if they are doing so in a cheeky way like the billionaires playing games with shell companies to avoid taxes, it's fair to be mad at them even if it's not "technically illegal".
imo. it's usually big players who have the time and the lawyers to exploit loopholes in the first place.
won't deny that there is downsides though
If you want a less contrived example, where I live motorcycles require different licenses depending on their engine displacement, but since electric motorcycles have a displacement of 0, they can be ridden without registration or license. Is this due to oversight or to encourage use of electric motorcycles? Are people who ride electric motorcycles without a license getting away with exploiting a loophole, or are they using the law as intended?