If we pay more careful attention, we will see that the word ?????? is always used in a negative context, and that it is always ????, with the exception mentioned in Shas of ??????? ?????? ???. As mentioned in the above comments, the degrading of evil is a positive thing. Anything else is a bad midoh. We are instructed many times to avoid it.
In contrast, the gemora extols the virtues of ????? ????????, with references to being an appetizer for learning, and creating ????. There are ?????? to the effect of ?? ????? ???? ?? and the like that are quited to support the virtue of being in a happy mood and laughing. The laugh at the expense of another is ??????, and it is a pretty awful thing.
To be specific about the question of the heading on this thread, ?????? is always bad, except for ??????? ?????? ??? (and whatever is included in that). ????? is a positive virtue.