You can justify anything with that logic: Guns are just an improvement on skull bashing, and there's rocks readily available everywhere!
The low cost, simplicity, network ubiquity, and availability of these devices is different. Nobody what-if's cell phones (after all they can be used to coordinate terrible actions) because they provide a useful service to most people, as do cars (which require license and registration btw). Misuse is mostly obvious and punishable by law.
Employing a massive, worldwide, distributed network which can run trackers just for lost trinkets, with the nefarious uses so easily in reach (and defenses not available to anybody not on your fancy ecosystem) is a scary thing.
As for other products that exist, I have no defense except that their purchase is either obvious, their presence notable "oops, somebody dropoed an airtag here" (relatively innocuous) vs "oops, somebody dropped a gps tracker here".
I don't know how e.g: tile deals with this, but at the very least it doesn't get to piggy back on my resources by default to trace me home.