Is outpatient surgery bad? I'm having it on my wrist.

Not Bad. Many operations are done as an outpatient. All this means is a patient is expected to go home the same day after surgery. Nothing is bad about this. The procedure to be done on your wrist is usually only done as an outpatient.
No. Outpatient surgery is performed all the time when hospitalization is not necessary. It is actually better for you as you can return home to recover comfortably.