Product interview: Round 1

So a company reached out to me for the PM role (I have 3.5+ years of experience in Product Mgmt)

The assignment they gave is a problem statement in their own domain and its basically to propose a strategy to ensure company is a leader in the domain.

I would have done the assignment instantly if it hadnt been a problem statement of the same domain.

It feels like free work because last time I interviewed for one such company, it took my assignment and ghosted me.

Should I ask the recruiter to change the assignment? Or should I let it go?

FYI, the company’s reviews are really bad. Also the assignment’s second half is wireframes for their homepage and how I would redesign it. Feels like they’re crowdsourcing ideas. I have not even had any phonic interview or video call. Just straight up slapped an assignment over mail.

Any advise?