Is self-esteem good or bad?

A good answer would include the following key points:
-High self-esteem is generally considered good, whereas low self-esteem is considered bad. But it is more complicated than that.
-High self-esteem feels good and leads people to initiate action. However, overly high or unwarranted self-esteem can be maladaptive, and efforts to raise self-esteem (in a school setting, for example) may not produce expected or desired outcomes.
-Low self-esteem is both a component of depression and a predictor of depression over time. At one time, however, having too high a level of self-esteem was seen as boastful, cocky, or prideful.
-There is evidence that self-esteem does not cause a range of positive outcomes, leading well-intentioned programs centered on boosting self-esteem under critical evaluation.