I dunno, I think you're being overly critical. Picard let Maxwell safe face and got bit in the ass for it. It's eyebrow raising, but things happen, in real life too. And there's so much payoff in the episode, you forgive little things. That's the case with all fiction. Maxwell was in his ready room because he was stressed and waiting. O'Brien walks into the ready room because the crew knew the jig was up. All that was left was the somber work of informing the captain.
The Ferengi are pretty cringe. But that's the case in most of their appearances in most every series. You have to allow for them to be comic relief. Here a bit more grotesque relief, but, some nice tension aside, you're never really too intimidated by them as baddies.
I never really liked Qpid. It's just one of those lighter episodes where you have to "throw your hands up and bow to the absurd." Like The Royale or The Big Goodbye, it's just an excuse to play dress-up, and you just have to go along for the ride or change the channel.
