"Profit and Lace" is among the worst episodes of the series. If it wasn't a Ferengi cross-dressing/having gender reassignment surgery, it would still be one of the worst episodes.
I don't mind them and when watching the original run back in the '90s, I didn't mind them either. Strangely, I could watch "Profit and Lace" all through (and believe me, it was quite a challenge), yet I turned off "Ferengi Love Songs" for 15-30 minutes. Back then and with syndication/cable filling in the gaps, I've seen all but a dozen episodes of the modern era of Star Trek or so and this was the only one I could not sit through.
As noted, Ferengi episodes devolved into comedies as the series went on. I consider "Ferengi Love Songs" the turning point. Most Ferengi episodes after it just sucked. There's a fine line when doing comedies in serious shows. X-Files did it well early on, then they crossed the line at "Small Potatoes" & "Post-Modern Prometheus", culminating in the pile of crap known as (parts of) Season 7. Keeping from going too overt is key. They get laughs at the time, but when people look back on them, they cringe (except for PMP, which has a fan base).
Good: "War of the Coprophages", "Clyde Bruckman's Final Repose" (and "Humbug" I've heard)
Bad: those 2 eps + "Fight Club", "Je 'Souhaite", "Hollywood AD", "Dreamland" (a 2 parter no less!)
They're polarizing because some people hate the Ferengi, some feel it takes away from more serious stories can be told (umm... Star Trek had 26 episode seasons back then. Most shows then were 22-24 eps, now they're 20-22 eps. We were fortunate to get that many eps every season and 2-3/26 episodes isn't bad. 2-3/20 episodes can be a problem though). They aren't all outright comedies, but some are light-hearted or don't take themselves quite as serious as regular eps. Quark was the King of the B-plot, filling the B-story of several episodes to give the characters not used in the A-story some screen time, and sometimes an episode flipped on its head came along, a B-story is the dominant one (Quark's) and the rest of the cast are as minor as Quark is in most eps. (Quark is a really strange character when you think about it)
I think someone mentioned here that in an interview, one of the DS9 writers noted only the hardcore fans hated Ferengi episodes, casual viewers and loyal viewers who weren't so zealous to be hardcore fans loved the episodes or felt the episodes were fine.
Back in 1994, Odo & Quark were the 2 most popular characters on DS9, so the hate is a relative thing.
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"Rules of Acquisition" really seems to offend some people that it was the 1st mention of the Dominion. Zek can be polarizing. Some people hate his cartoonish voice (the actor did voice cartoons a lot. He can be mostly widely recognized in the voice of the red-headed adversary of Stewie on Family Guy).
"The Magnificent Ferengi" was liked back then and for years after. Some hate it along with anything Ferengi, but the idea people liked about it was the Ferengi trying to figure out a way to take on the Dominion. Their guile is their only real weapon. And yes, it did attract some attention for the Iggy Pop appearance (even though its ratings were average).
As for "The Emperor's New Cloak", it was a very lousy way to end the Mirror Universe story, and was filled with WTFs (cloaking devices when they already had 'em, Vic Fontaine is real, etc), but I think their rationale for making it as it was, was the MU is the inverse of the STU and with the war making the tone of DS9 a lot darker, the inverse of that would be making things lighter, thus a bizarro MU ep.
"Little Green Men" was a parody of X-Files, which was starting to get huge in 1995. It's also the only DS9 ep to share a title with an X-Files ep (from 1994) at the time ("Improbable Cause", "The Ascent" & "The Adversary" [Anasazi] come close). DS9 had "Chimera" in 1999, X-Files would have a "Chimera" in 2000.
"The House of Quark" & "Prophet Motive" are basically Klingon & Bajoran/Prophet culture shock when they deal with the Ferengi. People really hate the latter, though I like it. The Prophets' disgust with the Ferengi is funny.
"The Nagus", "Rivals" were generally considered weak episodes or hated.
"Profit and Loss", "Looking for Par'mach...", "Business as Usual" are more hit or miss. Some people like them, some people don't.
"Family Business" seems to be a litmus test for like of Ferengi episodes. Those who like it tend to like Ferengi eps, those who dislike it tend to hate Ferengi eps.
"Bar Association", people seem to generally like this one.
"Body Parts". I remember waaaaaaay back when, some people found the concept creepy/disturbing and avoided it, but it's not that bad (and it seems to be one of the more overlooked Ferengi/Quark episodes).
"Ferengi Love Songs" is hated, but with "Let He Who is Without Sin..." as a hate magnet on worst of the season lists, it can hide in that ep's shadow.