1. Is it bad because it's an organization that seeks to accuмulate money and power?
2. Is it bad for Catholics or a Catholic organizations in general to accuмulate money and power?
Re: #1: No. It's bad because it's Modernist.
Re: #2: Of course not, else founding a church would be a sin.
The
Knights Templar, for example, started off orthodox, accuмulated wealth to fund the crusades (basically creating the first international banking system), but unfortunately they later started getting corrupted and being involved in occult rituals (which is what most people today think the Templars were).