I've always felt very conflicted about the ending of that episode. That to Picard, a life as a reliable if ordinary astrophysicist on the Enterprise was literally a fate worse than death always shocked me, given that I could think of no greater opportunity in life than to be an ordinary astrophysicist on the Enterprise. I understand it was not what he personally strove for in his career, but I always felt a little awkward as he lambasted it.
I just finished (re)watching the episode a few minutes ago, and it's a personal favorite. But that bothers me a bit too. Afterall, the "real" Picard was kind, respectful, and listened to his crew, even those who were not on a high-flying command track in life, and surely in other contexts he would not say that there was anything wrong or defective about a life lived in that way.
But he was comparing it with his own previously lived dreams, ambitions, and experience. As someone who doesn't aspire to be famous, wealthy, a leader of many, etc., I don't feel it's a knock on me. I'm quite deliberate in choosing the life I have, particularly my family life. It's worth noting that Picard never had a traditional family life, which for some people gives life meaning. He gave that up for the life he did have.
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I think it wasn’t just that he was an ordinary astrophysicist, but that he wasn’t very good at his job and you could see it in the way people treated him. He was unwanted and looked down upon.