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This is my thought:

Third parties exclusives are great if the title might not have exist without the agreement.

Example of positive third party exclusives:
Bayonetta 2, Street Fighter V, Journey, Sunset Overdrive

Third parties exclusives are horrible if they are just used to stop games from enjoying the game on their platform that were already in development. These are usually timed exclusives.

Examples of negative third party exclusives:
Tomb Raider, Final Fantasy 7 remake, exclusive DLC

Third party exclusives that only appear on one system, because the sales on competing platforms wouldn't justify development costs are also positive.

Example:
Guilty Gear Xrd, Persona 5