Pink slime in and of itself isn't bad, but I wouldn't eat it if I knew it was in my food. Meat in general is bad for humans to eat as it causes cancer, hardened arteries and other maladies when people eat too much meat in general. Just the name "pink slime" implies something bad to eat.
No, pink slime is not bad, because it is a healthy and important food product. Pink slime has gotten a bad name by activists that want to impose their preferences on other people. People do not have to buy and purchase pink slime. They can if they want to. If people find it delicious, they should be able to eat it if they want to. It is affordable and it is good to eat.