First act is almost unbearable. I think it's trying to portray a life goes on aboard DS9 kinda vibe, where the characters exist outside of the A-stories shown in episodes, but it's written so poorly, and performed so dejectedly. Even Rene can't be bothered, and the man usually manages to weave gold out of all but the worst dialogue. A lot of really long single-takes, with no interesting camera moves or wit. You just sit in the rubbishness of it all and feel vaguely uncomfortable at the overt horniness that has appeared out of nowhere.
Second act is... ok, although it's mostly a lot of disjointed nothing happening. Terry Farrell having to play the ditsy sex-object just amplifies everything annoying about Bashir up to and including this point. A vague bit of intrigue finally gets introduced when the figments talk conspiratorially about their hosts, and reveal their alien origins, but then it just kinda yadda-yaddas an ending and never gives a satisfactory conclusion. A little tag-on scene with Sisko just about saves it from being a completely toilet episode, but definitely skippable.