Could you please help me understand this sentence? 1. If ambition is to be well regarded, the rewards of ambition wealth, distinction, control over one's destiny must be deemed worthy of the sacrifices made on ambition's behalf. What does " is to be well regarded " mean? 2. Instead, we are treated to fine hypocritical spectacles, which now more than ever seem in ample supply: the critic of American materialism with a Southampton summer home; the publisher of radical books who takes his meals in three-star restaurants; the journalist advocating participatory democracy in all phases of life, whose own children are enrolled in private schools. For such people and many more perhaps not so exceptional, the proper formulation is, " Success at all costs but avoid appearing ambitious." What does " participatory democracy in all phases of life " and " formulation " mean? Thank you!