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'Spoiler' would be upright at the rear. What you circled is nominally a 'splitter'. Functionally, it lowers the stagnation point, forcing air up or to the sides instead of underneath.
So it depends on the relative merits of the streamlining the underbody as opposed to over the top.
If it were vertical it would be an air dam. Splitters are used to produce downforce at the front.
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