An overall good.
The subculture around it is not a 'bad thing' ... as someone who kicked a LONG Cigarette habit with the help of vaping very early on (one might say 'before it was cool') I have to say I'm deeply appreciative of it's benefits vs. 'analogs'.
To the extent that people 'start' via vaping, obviously, that's not a good thing. BUT ... in the past, these same people almost surely would've starting smoking cigarettes instead.
With vaping we're talking about producing an 'effect' that 'looks like smoking' ... but without the flame and associated toxins ... by essentially using 4 ingredients ... Vegetable Glycerin (basically, it's vegetable oil, very often used in cosmetics and soaps, totally safe to consume orally), Propylene Glycol (used for decades in 'smoke machines' i.e. at concerts to produce 'fog', but also as a substrate in asthma inhalers, and even in hospital air systems ... to purify the air), nicotine, and food-grade flavorings ... vs the 100's of known carcinogens produced by burning tobacco.
IMHO, the phenomenon of 'Vaping' being seen as 'Cooler' than Smoking Tobacco ... is going to save millions of lives every year, in the net.