Both bad, and one is more bad than the other. They’re not equally bad but they are both very bad
The false equivalence of doing the "both bad!" song and dance serves to so radically under-emphasize the absolute wanton, orders-of-magnitude-worse levels of corruption and evisceration of norms of one side by reducing it to "more bad than the other but they're both very bad." It allows the window to shift to normalize the sort of destruction of systems we're seeing by hand waving away how "the other guys aren't great, either!" It's borderline discourse malpractice at this point, and should be called out as such.