"The Last Outpost" almost made me give up on TNG. The Ferengi reveal was one of the most embarassing things I've seen. I found it hard to take them seriously in their first scene and that whole sequence on the planet was just awful. Well, the whole episode stinks. It's even more embarassing when you remember that the episode was setting up the Ferengi to be one of the main recurring antagonists, on par with the Klingons and Romulans on TOS.
I'm not a big fan of the Ferengi for this reason. They're so depthless and irritating, even more so on TNG. The comic relief aspect worked somewhat on DS9. Early TNG tried to make them threatning and it backfired horribly, so after that they kinda gave up on really fixing them.It's unfortunate that they didn't expand on this type of Ferengi instead of turning them into little more than comic relief later in TNG and then furthering that in DS9. Wasted potential