Depends on your definition on good.
So my definition of a good SatNav would be to have the items I list below, that Waze does not have.
I took my car for a 40mile run using CarPlay / Waze.
Waze / CarPlay worked flawlessly but it is not a touch on the SatNav installed by MB.
The immediate items that I noticed that MB does better than Waze ---
1) I selected my destination and Waze routed me via a road that is closed (MB sat nav knows the road is closed) - I knew the bridge was closed and continued on an alternative route - Waze did not recalculate - but coming home I deliberately went the wrong way and Waze - did try to reroute / turn me around.
2) Speed limit signs in the display showing the current speed limit.
3) Lane guidance - i.e MB nav shows the correct lane/s to be in to make your change of direction - useful coming up to roundabouts where sometimes you have to be in a particular lane. Same for larger intersections and exiting motorways.
4) On motorways, exits are shown in the display with a full colour graphic showing what the off ramp / intersection & signage looks like.
5) Approaching an intersection where you have to turn MB gives a nice graphic bar and numeric countdown (on screen) of the distance to the turn off
6) MB offers multiple route choices and waypoints.
7) If you are using your phone the screen is a lot smaller - Waze with CarPlay also has a cluttered interface.
8) I don't need to get in my car - stick my phone into a bracket and connect the charging lead.
Re the speed warnings - I did like the fact that one can respond to warnings that may no longer be needed. However I drove past dozens of known mobile speed trap points and got no warning from Waze.
I pay £20/year for a speed trap database that goes onto a SD card that goes into the multimedia system and integrates into the MB sat nav. It is regularly updated - Yes not as handy as Waze but is available. Also handy for travelling in some European countries (which I do frequently) where this type of warning is not allowed. If I was to be stopped by the popo the sd card would go into my pocket.
And (like Waze) ...I can plan my route in my living room and send it to the car or load it onto a SD card.
MB also reroutes you according to traffic - we have had rerouting happen as much as an hours drive before the congested area and it provides constant traffic warnings and updates about the chosen route.