Should we call 'any publicity is good publicity' statement true?

We have all heard that age old statement, 'Any publicity is good publicity'.
This is at least true by what media follows – any mention of your name/brand/company is good in social media. But is that so?

I don't find it entirely correct. 😕

Now a days people do cheap stunts to get the lime light.
I have experienced that when we do something unusual, it is bound to attract attention but does it work in companies building brands, films promoting actors, organizations bringing out issues?
Just wondering, does it not have some ill effects?

Give it a thought and share your views.