Math people:
The title is the question: Is there any good reason not to define $0^0=1$ , such as contradictions in algebra or arithmetic?
I searched for similar questions before I posted this question, and couldn't find any. After I posted it, I got some comments citing similar questions. There is a similar question at What values of $0^0$ would be consistent with the Laws of Exponents? . I checked some of the other questions in the links in the comments and the links posted with those links. There is a closer match at How to define the $0^0$? That question was closed as a duplicate, but the older, duplicated question was not identified. I could not find a convincing answer anywhere to my essential question: "does defining $0^0=1$ lead to contradictions in algebra and arithmetic?" I'll leave it up to others to decide whether my question is a duplicate. If it is, maybe you can close this question and give a better (in my opinion) answer to one of the older questions.
Let me get one thing out of the way up front: yes, I know "$0^0$" is an indeterminate form. That is, if $f$ and $g$ are real-valued functions with $f(t) \to 0^+$ as $t \to 0$ and $g(t)\to 0$ as $t \to 0$, then you don't know what $\lim_{t\to 0}f(t)^{g(t)}$ is, or even whether exists, without more information. I don't consider this a good reason to declare that $0^0$ itself must be considered undefined. I know many people will disagree with me here. I expect at least one answer and some comments arguing why this is a good reason for $0^0$ to be considered undefined. Everyone is entitled to their opinion, and you are free to leave such an answer. I will not attempt to change your mind, beyond what I write in this question.
If you define $f(x,y) = x^y$, then $f$ cannot be continuous on $[0,\infty) \times \mathbb{R}$ no matter what value, including $1$, you assign to $f(0,0)$. But why should every function have to be continuous?
If the mathematical community ever does come to the consensus that $0^0=1$, and I were teaching calculus students about limits involving indeterminate forms, I probably would not even mention the question of whether $0^0$ itself had a value, because it probably just confuse the students. They probably wouldn't even notice the omission.
To me, a "good reason" not to define $0^0=1$ would be if this definition resulted in a contradiction, when used in expressions involving multiplication and exponentiation of real numbers and the rules used to simplify such expressions. Here is an attempt to produce such a contradiction: assuming $0^0=1$, $(0^0)^2=1^2=1$, and $(0^0)^2=0^{(0*2)}=0^0=1$. No contradiction. In constrast, if you define $0/0 = 1$ and you want the associative property to hold (a reasonable expectation), then you can derive the contradiction $1=0/0=(2*0)/0=2*(0/0)=2*1=2$.
It just occurred to me that there is another good reason for not declaring officially that $0^0$ must always equal $1$: if defining $0^0=0$ does not lead to contradictions in algebra or arithmetic, either.
I am not claiming $0^0 = 0/0$. Of course you can never divide by zero, or raise zero to a negative power.
Of course, when people use power series, they use $0^0=1$ all the time, and no one complains. I have read that "$0^0=1$" is used often in combinatorics, but I don't know much about combinatorics.
Based on what I have seen in the older questions, their answers, and the answers and comments to this question, it seems that no one has discovered any way in which defining $0^0$ to be $1$ leads to contradictions when using the usual rules of multiplication and exponentiation. It also seems that defining $0^0$ to be $0$ does not lead to such a contradiction. So I'm guessing it is impossible to produce such a contradiction. But I have never heard of anyone wanting to define $0^0$ as $0$.