A hole in and of itself is neither bad nor good. This value judgment (good vs. bad) comes from context. Take, for example, the giant beaver dam in Northern Canada. Several generations of beavers spent nearly 40 years building a 2,200 foot dam. It's so big, you can see from space. After all that hard work, I'm sure the beavers would hate to see it develop a hole. Also in the bad category, there’s a hole in the bottom of the sea. There’s a pipe from BP in the hole in the bottom of the sea. There is a slick from three leaks in the pipe from BP in the hole in the bottom of the sea. And the black oil spills all around all around, ‘till the black oil slick runs aground.
On the other hand there’s the good holes. This morning, Monisha Merchant (donut girl) delights us with four dozen holes of the good variety (contained within a like-number of donuts). And while they’re dam good, you should to be careful not to spill them.