W. Brett Wilson, Canadian Entrepeneur and multi-millionaire, stated that on his upcoming "Risky Business" television show “We’ve got a guy who’s been a standard bred horse trainer and he is a hustler. This guy knows how to buy horses, run them and then flip them. So we’ll probably buy a race horse, run it in four of five races, and then we’ll see if we can make money by flipping it."


Reference: http://www.thestar.com/entertainment/article/977583--dragon-s-den-s...

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Race horses are bred to run and they move barn to barn via claims races or sales. Some are loved by their owners, and others are kept only if they make money. 
As long as the horse is well trained and handled, I don't see why it's more exploitative than any activity in which we use horses for our entertainment.   I reserve my fury for people who breed their mares every year and then try to "give them to a good home" when they aren't producing foals any more. That's exploitative.  A woman tried to give me an old mare who was blind and had given them foals for 20 years. So this poor thing was going to have to leave the only home and herd she knew, go to a strange barn and fields, and would be incredibly vulnerable since she was blind and new to a herd.


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