The top comment derisively states:
"The whole business is a scam built around sending in some 26 year-old with an Ivy League degree and $100 haircut to regurgitate snippets from articles in HBR"
In the context of fining the company $500MM for being too effective.
At least in the US, where the punishment is relative to the crime; the court clearly agrees about their efficacy.
The reason McKinsey was being sued isn't because they were giving effective advice, but because it was likely illegal.
Because of this I'd understand that both can be the case. That said, I'm not sure McKinsey is always as ineffective as the top comment suggests.
Harmful = “having a negative effect”
How can they be both?
Of course a lot of brutal strategies work well in environments which do not expect them. However trusted environments are often more efficient.
I.E. "McKinsey worked with Purdue to implement an ineffective business strategy that resulted in bankruptcy for the business, due the harmful nature of the product and the predatory nature of the strategy."