I'd say you're wrong.
Good Outings
04/04: 6.0 IP, 2 ER
04/10: 7.2 IP, 1 ER
04/20: 7.0 IP, 1 ER
04/25: 7.0 IP, 0 ER
05/06: 7.0 IP, 2 ER
05/11: 7.0 IP, 2 ER
05/16: 7.0 IP, 3 ER
05/22: 6.0 IP, 2 ER
06/08: 8.0 IP, 0 ER
06/13: 7.0 IP, 1 ER
06/25: 7.0 IP, 1 ER
Bad Outings
04/15: 5.0 IP, 7 ER
05/01: 4.0 IP, 6 ER
06/02: 5.0 IP, 7 ER
So-So Outings
05/28: 7.0 IP, 4 ER
06/19: 6.0 IP, 4 ER
Pedro has been good enough to win in 13 of his 16 outings this season. How does that make him "more bad than good" ?
What you need to do is quit comparing him to the "Old Pedro" because you obviously know nothing of that pitcher to make such a comparison. Don't feel bad though, 99% of baseball fans don't even realize that at his peak he was more dominant than any other pitcher in the last century.
All Pedro has to do is have a 1-2-3 inning in the 1st and he'll have many more of the 7 IP, 1 ER outings that we all know and love.
BTW, the old Pedro will be on ESPN Classic Wednesday afternoon outdueling Roger Clemens and throwing 97 mph on his 128th pitch of the game to complete a 2-0 shutout that took place in 2000.