Pete was not impressed. I've noticed this theme broadcast in various media in the last few years. The message seems to be that greed is the force that ultimately provides jobs for millions and makes it possible for large sums to be devoted to charity. Horace deals with the question of what greed does to the individual. I would never agree that Greed is good.
Ambition CAN be very good, and is the fuel of accomplishment.
Greed is almost by definition ambition out of control. Greed forments suspicion and lack of trust on the part of others, which tears the social fabric. If I were offered a business deal by a greedy person which seemed on the surface to promise me great benefits, I could not trust appearances. You can't make a good deal with a bad man. And, like any good, desire or ambition can turn bad if misused.