I am wholly relaxed about a government of which Winston Peters is a part, not just for the reasons outlined by Peter Cresswell, but because his bite is actually rather small when compared to many of those who despise him.
For a long time, Winston Peters was the second coming of Robert Muldoon, except of course when it came down to it, Winston wasn't that interested in turning back the clock of the reforms of Roger Douglas and Ruth Richardson (except that he wasn't keen on privatisation). Despite his rhetoric, after all, central government privatised its shareholding in Auckland Airport in 1998 while Winston was in government.
He isn't an acolyte of environmentalism, in that he doesn't believe in sacrificing prosperity and wealth to engage in what is virtually nothing besides virtue signalling about climate change. In that sense, he is much less toxic than the Greens, who combine welfarism with environmentalism and the glorification of identity politics. Winston has NONE of this (although his willingness to buy votes with the elderly could be described as a form of welfarism).
So the so-called rightwing commentators who think a National-Green coalition is a good idea are demonstrating how utterly beguiled they are with the image of the Greens and ignoring the substance. Either a National-Green coalition would kneecap the Greens on principles and policies, causing them to splinter and disintegrate below the 5% threshold, or (more likely) a National-Green coalition would be led by the Greens pushing climate change, getting the baubles of railways and tramways that will cost hundreds of millions of dollars a year for many years to come in losses and continuing the slide towards identity politics that National has done nothing to reverse. Furthermore, it will encourage more welfarism.
After all, it is the National Party that is willing to sell out its principles for power (Muldoon 1975-1984 being the most egregious case study). The Greens are a party of principles and policy (the wrong ones in my view, but still).
That's why I'll be more comfortable with Winston calling the shots over National or Labour. National doesn't lead the fight against leftwing ideas or concepts touted by Labour and the Greens and their supporters, it just plays personalities and fear.
Winston may contain the growth of identity politics, he wont sign up to mindless environmentalism (even though he has policies that might feed into it) and he wont embrace welfarism on a grand scale. OR he may just get a Cabinet post and go away.
In either case it is better than the Greens driving public policy.