From the Federation's POV, what the Borg are doing is 'wrong'.
From the Borg's perspective, what they are doing is not 'wrong'.
There are no universal rules really ... there are different perceptions of the world/universe you reside in (which vary from person to person alone ... let alone species to species).
That's nice. Going to write an apologia for the mass murders of the Argentine Dirty War while you're at it? Maybe you'll explain that the repression and murder of Idi Amin in Uganda wasn't all that bad. Or why no one should find the behavior of the Augusto Pinochet regime in Chile all that objectionable, since it's all about points of view. There's nothing really
wrong with death squads, after all. Or why the enslavement of the Africans by European powers was just the Europeans following their own perception of right and wrong!
Is there an empirical status of "right" and "wrong?" No. But there are some things that basic empathy should tell us are universal violations of the rights of others. If we actually care about others -- and we have to, because if we do not, then, ultimately, our ability to exist is imperiled -- we have to recognize that others have rights, too. The Borg would certainly not approve of someone invading their
space, abducting their
drones, and then forcibly enslaving their
mind -- yet they do the same to others. It is the essence of aggression and power-madness, absolute megalomania. They are evil, and there is nothing good about their culture.