This episode begins with something very strange--the Ferengi want to GIVE something away! As folks familiar with the show would realize later, the Ferengi would NEVER just give something away...and obviously there is a catch. In this case, they return a lost Federation ship, the Stargazer, back to Picard--a man who served aboard the ship during an encounter at Maxia where the ship destroyed a Ferengi vessel that attacked them. Obviously this is an attempt by DaiMon Bok to exact revenge for this incident...but how will this result in his punishing Picard?
Had the Federation come upon the Ferengi offer of a 'gift' later in the series, it obviously would have been seen as a trap. However, this was only the second encounter with this annoying species--so the humans have no idea what's REALLY going on in this episode. So, it is not a weak episode--just one that explains just who the Ferengi are and how they think.
This is a very good episode--not just because of what it has to say about revenge but because it gives some wonderful insights into the psyche of the Ferengi. All in all, one of the better episodes of season one.