No, it isn't, and especially hasn't been historically. The negative connotations are overwhelmingly modern.
The areas where it is very inappropriate right now tally up to maybe 1 billion people*. That's pretty far from "most". For everyone else it is mostly positive, neutral, or meaningless.
*Brazil, Turkey, Iran, Iraq, Saudi Arabia, Greece, Italy, Spain, Russia, Ukraine, Belarus, other parts of Eastern Europe
The PADI standard gestures are used and recognized all over the world to mean these things.
Maybe that is what Richard Nixon thought as well when he caused a little scandal using it in South America in 1950. In 1992 when the Chicago Tribune published "HANDS OFF" mentioning said episode the negative connotations still seemed to be in place[1].
In 1996 The New York Times stated "What's A-O.K. in the U.S.A. Is Lewd and Worthless Beyond"[2] as title of an article confirming the negative connotations.
It is worth mentioning that this article lists Australia amongst the places where the gesture is inappropriate. I always thought it was something used only in the English-speaking world but it seems in reality it is more like a North American plus diving world thing.
If you don't believe the press, I traveled around the world for more than 30 years and I can assure you in most parts using your thumb and index finger for a visual OK is not OK.
[1] https://www.chicagotribune.com/1992/01/26/hands-off-34/
[2] https://www.nytimes.com/1996/08/18/weekinreview/what-s-a-ok-...*
> I can assure you in most parts using your thumb and index finger for a visual OK is not OK.
You're moving goal posts. Of course it doesn't just mean "OK" in some places.
What you actually claimed was "The OK gesture has always been very inappropriate in most parts of the world."
Which is plain wrong. In India for instance it can refer to "money", while in China it can nowadays also be seen as a distress signal when performed a certain way (thanks to Chinese social media popularizing that use). There's some ways you can mess this up, like making it seem you're attempting to bribe someone, or signalling you're in distress when you aren't, but in neither country the gestures are inherently anywhere near "very inappropriate" and both will even understand it as "OK" if you perform it correctly and in the appropriate context.
That's already almost 3 billion people, but let's say 2.5 billion because there's regional variations in both countries and I'm sure you could find some northern Chinese village that will take offense.
I can easily push the number of people to whom it is not inappropriate past 4 billion by adding smaller populations (Indonesia, Japan, western Europe, USA, Taiwan, South Africa, Kenya, Nigeria, ...), so your claim that "[it] has always been very inappropriate in most parts of the world" cannot possibly be true.
It's perfectly OK in Greece.