$product->ID in has_term() not working, but manually inputting the ID works, why?

Question

I have this code which I am using to loop through all products, then it should print the $current_product array if a product has term 'composite' from the 'product_type' taxonomy - it doesn't.

BUT if I replace $product->ID in the has_term function with the actual number it works fine and prints the array. Why?!

public function test12() {

    $args = array(
        'post_type' => 'product',
        'posts_per_page' => '-1',
    );

    $products = get_posts( $args ); ?>

    <?php foreach( $products as $product ) {

        if( has_term( 'composite', 'product_type', $product->ID ) ) {

            $current_product = array(
                'ID'            => $product->ID,
                'post_status'   => 'publish',
            );

            echo 'has';

            print_r($current_product);

        }

    }

}