Not really.
I (and my siblings) missed 1-2 weeks of school for holidays when growing up as dad had factory shutdown, which wasn't in school holidays. We're in England, so not fancy ones abroad. All three of us grew up with a respect for school and education, went on to higher education, got degrees and post grad qualifications, etc. I even went into teaching.
I disagree that family holidays should only be for those who can afford to go away in school holidays. Children can benefit a lot from a family holiday, as can other family members.
Most teachers, in my experience, really don't mind children missing school for a family holiday. Just don't ask for work to be set or marked, or extra catch up time.
And it's rare that anything important is only ever covered once at school. Your average child isn't going to be penalised by missing some school time, if their attendance is normally fine.
So, no it's not terrible at all imo.
Obviously, it's a personal choice. Don't want to take a term time holiday - don't
And sadly the fines exist. You have to be prepared to take the fine, if you take time off school for a holiday. Sometimes you may get away without it, sometimes you won't. It's always a risk, but usually the holiday saving more than covers it anyway.