Star Trek has still always been willing to examine its own premise - sometimes executed well, other times not - and the morals it raises. I can't really think of the show ever really holding up a genocidal monster who brags about having ended other species as anything but a badguy. Even if Georgiou was Ming the Merciless, Ming is still a villain, and meant to be treated as the morally reprehensible creature he is. Georgiou here is basically just a step away from being Catwoman, and it's a serious narrative problem, especially when the series asks us to condemn much lesser monsters like Leland while she stands right beside him. It actively diminishes the show, and the moral stance it tries to project.
It just asks us to be entertained by her.