Santino is Good for the Women't division because, Yes, he's bringing attention to the division which yes it does get but not a lot. He's bringing in a lot more attention to the division than what it has gotten in a long time. He would bring in a whole lot more if he ends up winning the women's title at some point.
Santino is Bad for the Women's division because he's kind of making the Divas look like a joke. Or making the division look less important. When in reality, the Women's division is just as important as any other. He's bad for the division because he's fighting females, granted he's dressed as a female while fighting them. He should be at least fighting mid carders. He's more or less making himself look bad in this aspect.
But all in all, Santino, while he may be a jobber, is great for the WWE, because he's bringing in the "entertainment" aspect of the WWE. He's hilarious and very good at what he does as a comical jobber.