A concept of a 'smart contract' isn't well-defined, thus it's hard to tell if something is a 'smart contract'.

But programs which run on Ethereum blockchain are officially called contracts.

Your criticism is like if someone said "Using cryptography you can securely store any information you don't want anyone else but yourself to see", and you criticize it by saying "You can also store information you want others to see using cryptography".

That said, technically bitcoin is a smart contract too, a Smart Contract for a virtual currency.