Nope, it still is exploitative, given how surplus value implies workers not being paid full value for their labor. Even if workers were to seize the means of their production and got a say over their surplus value and where it gets repurposed, it'd still be exploitative due to how markers and competition works, and workers having to exploit themselves by "paying themselves" less, as that's the only area where you can reliably cut costs of production.

The only non-exploitative mode of production is socialist mode of production, where markets, private ownership, commodity production, wealth accumulation get all done away with for planned for-use production.