Of course, criminals aren't going to turn in their guns. Gun buybacks have always just been useful for their second order effects -- forgotten guns in attics being stolen, found by kids, etc.
Yes, people take advantage of these events. There's not much of a way to filter participants by intent. People turn in broken or rusty junk that is not of danger anyway. Doing it with a junk plastic gun is not much different than doing the same with junk guns made from other materials. But the bottom line is I don't think anyone ever thought that the results of these events would be 1-for-1 removal of crime guns off the street.