Rather than take the Westoid view of him being bad at ruling, I would say it would have been far better to have stepped back a bit and let others have more responsibility for the major decisions as time passed during the 50s. He is still human and can't do everything himself. Then a lot of stuff could have been avoided that would hurt his name.
I see Mao as something who's very good at making high level leadership decisions, but bad if you ask him to be a bureaucrat that has to manage day to day running of the country.
Focusing on just his role after 1949 as chairman, he still made many right calls. For example his focus on Two Bombs One Satellite at great cost was absolutely correct and we have examples for and against in terms of North Korea and Iran to demonstrate the result of the two paths today. Had he not focuses on nuclear weapon and delivery system back then China might have missed the opportunity to join the P5 and be considered "legally owner of nuclear weapon" and be instead in an Israel type situation today.
He wasn't very good at economic policies and he thought he could use revolutionary spirit to overcome economic difficulties and those were his flaws. But such flaws were no where enough to make him bad at ruling.
Or if you want another comparison: Che Guevara was a lot worse than Mao at waging guerilla war and even worse at managing Cuba's economy. Although he uniquely could recognize he was no good as a bureaucrat and went back to what he did best (and then failed at it anyway).