It's a bad thing in that it dumbs down people, caters to the lowest common denominator, and draws people away from social interaction.
It's a good thing in that it brings knowledge to everyone's fingertips (You're learning about the pros and cons of the internet on the internet), provides fast and "accurate"ish communication in many formats, the sharing of ideas, and allows for interactive fictional entertainment in ways never before dreamed imaginable.
The good section was longer just because each point took more space not because there were more points. Plus since you're asking on the internet there's obvious bias in the answer (since I wouldn't be answering your question on the internet if I disliked the internet).
It has revolutionized how we can communicate throughout the world. It has totally changed retailing and information dissemination. Our world has totally change because of it and for the better. Like everything else, it can be used for wrong doing if someone chooses to do so but that doesn't diminish the huge benefit it's provided.