I'd say that haki as a whole isn't as bad. Sure, it's not good neither but Oda fucking sucks at representing it and thus, he drags the "power system" called haki through the floor.
I always felt like Oda wrote himself in a corner with the Devil Fruits and Haki was something that he came pretty much in the spot to balance stuff out, adding more and more stuff to it so that relatively important characters without Devil Fruits don't get stomped on.
Sure, I might be wrong, Haki might be a concept that Oda had in mind from the beginning but his poor execution makes me think this way.