No, I do not like the fact that Michael had Fredo killed, but at the same time Fredo even though he's not the sharpest tool in the shed, stabbed Michael in his back by betraying him.
If I was Michael would I have had Fredo killed? It's pretty hard to say; but given the circumstances maybe I would have because he's proven that he's weak, he betrayed him once, chances are he would have done it again.