How do historians commonly describe the word feudalism itself?
As a modern label summarising varied local arrangements rather than one uniform system✓Correct answer
As the official name that medieval governments themselves used for the way they governed
As proof that lords, vassals and fiefs never actually existed anywhere
As a verdict that the arrangements it describes were unjust and harmful
Explanation
Historians point out that the term was coined long afterwards and is stretched across practices that differed a great deal from one region to the next, so it works better as a convenient summary than as the name of one shared institution. Reading that criticism as a denial that lords, vassals and fiefs existed goes much too far, since charters and court records set out those relationships plainly; what is questioned is the tidy label, not the practices behind it.