It is entirely bad. It arrogates consumer surplus to the supplier. The people paying higher prices don’t subsidise those paying lower prices, the supplier pockets most of the gains. They’d like you to believe that the people paying cheaper prices are subsidised, but they’re not selling to them at a loss. And it causes a deadweight efficiency loss.
The fact that businesses can pass this off as some kind of progressive pricing and good for the consumer makes it as disingenuous as it is pernicious.
https://en.wikipedia.org/wiki/Economic_surplus
[EDIT] More generally, I just prefer my commerce to be fairly straightforward. I don't like having to second-guess whether there are hidden tricks going on to screw me.