I agree with your 1st paragraph. But IIUC the exit tax is not on wage income - it’s on their global wealth. I don’t see how the rich can escape that without cheating. But the problem is that non-rich middle class workers have homes and they’re being targeted.

It’s a tax on workers who don’t even live in the country.

Yeah indeed that’s the shame of the US tax policy. But to be clear that tax impacts citizens living abroad, not those who renounce. Renouncing actually escapes that.