Yes, I believe they are a cult.
It is useful if each side in this discussion offers a definition of the word CULT that they feel the WTS does or does not meet. I find the definitions already offered by those who say the WTS is a cult to be satisfactory to me.
Also worth examining are the behaviors required and encouraged by the cult, like attending indoctrination sessions for 5 hours a week, and the consequence of failing to meet this expectation being that one is labeled as "spiritually weak" and is subject to "shepherding calls."
The WTS has published lists of the specific beliefs unque to the WTS that Jehovah's Witnesses are required to accept, and the penalty for not accepting these beliefs is the severest form of ostracism possible short of imprisonment or physical death. Making a public declaration of doubt about their "present truth" is condemned, even though their history demonstrates that any such "light" has a brief half life. Rejecting currently taught dogma is equated with rejecting the Word of God.
The organization itself takes the position of a "holy thing" in JW dogma. Rejecting the organization or the authority of the organization is equated with rejecting God.
Members of the JW cult are required to put their lives at risk and even surrender their lives for beliefs that most of them cannot articulate or understand completely.
Criminal behavior (pedophilia and abuse both physical and emotional) within the cult is tolerated and covered up by those in authority, and "whistleblowers" are punished.
Stupid and baseless beliefs are not sufficient to qualify a group as a cult. Controlling behavior does qualify them as a cult.
I think it could be argued that JWs DO follow a single leader - if you allow that this "leader" can be imaginary - the WTS has created an entity called "The Faithful and Discreet Slave" (note that it is a singular "slave", not plural slaves") and that is the sub-puppet that directs the teaching and activity of Jehovah's Witnesses.