By definition, a contract isnt valid unless its executed in good faith, thus an “exploit” is completely distinguishable as the fraud it is. The only issue then is one of enforcability. Since the DAO is running on ETH, and ETH is established in accordance with the ETH Foundation Legal Agreement, then enforability is in accordance with those terms. Have you ever read the ETH Foundation Legal Agreement? Maybe you should before attempting to address how “a court” will determine a damn thing.