"Is soy bad for you?"
In general no soy is not bad for you, unless you are sensitive/allergic to it. As far as any controversy goes, the only one is a singular and anecdotal case in a male, where it was claimed to have caused gynecomastia. The only issue I was able to find, from reading a research article from the Linus Pauling Institute of Oregon, which was backed by other nutritional research facilities, was that in older Japanese males who ate more than two servings of soy per week, was an contributor to an early onset of dementia. However until further evidence is found, soy in general is not bad for you. As stated in another response you have people who claim that this or that food item is bad for you. If we listened to all of the naysayers, and all of the self acclaimed experts, we'd not be able to eat anything. Also the internet is filled with many disproven claims about how this or that is bad for us.
The internet has allowed a fertile ground for myths, old wives tales, pseudo science, conspiracy theories and other sundry types of scams, to take firm root, and be propagated as fact. In my younger days, something I was told, and with the advent of the internet, holds even more true. That's believe half of what you read, and even less of what you hear.