Is an oversocialized dog just as bad as an undersocialized?

Since my best friend's dog is a Cane Corso, it got socialized with people as a puppy and never trained to distinguish.

It developed more submissive than usual and thinks everyone is his friend. It has gotten too close to other dogs (wanting their attention) and a couple of them didn't like it. Then my friend's store got robbed once and not only did it let the robber pet him but it walked outside with him for a bit; confusing him for a new friend.

Overall, if you oversocialize a dog to the point he/she loves everyone, walks away with the robber and thinks they're all friends is that just as bad too?
Is an oversocialized dog just as bad as an undersocialized?
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