The distinction isn't about the type of debt. It's about what the borrowing does to your financial position over time.
A mortgage on a property that appreciates is debt that tends to build net worth. You're paying to own an appreciating asset rather than paying rent with no equity to show for it. The interest cost is real, but so is the asset you're building.
A student loan for a degree that meaningfully increases earning power follows similar logic. Business borrowing to fund something with a genuine return on investment can work too — the test is whether the asset or income it generates is worth more than the cost of the debt.
Consumer debt at high interest rates almost always makes your financial position worse. A credit card at 24.9% APR used for a holiday means you're still paying for that holiday two or three years later, plus interest. The thing you borrowed for is gone. The cost remains.
Buy-now-pay-later for consumer goods, car finance on a depreciating vehicle, payday loans at effective annual rates that run into triple digits — these make things accessible now at a price that compounds against you.
Will this debt improve my net worth over time, or reduce it? A mortgage on a sensibly priced property almost always passes the test. A loan to cover living expenses or buy things you can't afford does not.
Like most tools, it can be used well or badly. The interest rate and the purpose both matter. High rate plus depreciating or consumable purpose equals bad debt. Low rate plus appreciating or income-generating asset can equal a reasonable financial decision.