For the devout or serious religious adherent, the word "cult" is nearly always used as a pejorative label to segregate superstitions which they deem illegitimate or incorrect (or even heretic/apostic) from their own superstitions.
In my day to day study of ancient culture and their material remains, the concept of "cult," "cult worship," and "cult-item" is used descriptively and specifically to refer to that which surrounds the religious superstitions and forms of worship of these ancient cultures. The term is, in no way, pejorative.
I see no reason why modern human cult worship cannot be described the same way, using the same words of utility, without the pejorative connotation. I recognize that the religious cult member that has his cult called a cult will perceive it as pejorative, but that would be their problem. That would be a social construct of their own doing.