Is hydrogen peroxide a good treatment for facial acne?

No: Get something that actually works -- a cheap rx. I start folks on topical clindamycin, with a retinoic acid derivative if there are lots of blackheads, benzoyl peroxide if not. The cost should be almost nothing. More extensive disease is usually manageable by oral antibiotics, and dermatologists have the big guns. This is the 21st century and nobody needs unwanted acne.