I am not aware of a way to do this with stars:
 

But if you change the “slider type” to slider then it allows you to add labels under the “format” section.

Hello ​@Cyborg,

You can't achieve this directly using the slider question type, as it doesn't support adding labels in the star format. One workaround is to switch to the slider type, where labels can be added, as suggested by @kgillis.

If you specifically want to use stars, another option is to use a multiple choice question type, display the choices horizontally, and use star symbols in the choice labels. You can also add text below the first and last options as needed. However, this approach may not be a perfect substitute.

Thank you all for you reply.

If using the New Survey Taking Experience and Star Sliders, the min and max value labels are already in a good position to be updated with Bad and Good labels. Try adding the below to question's JavaScript in the OnReady section:

Qualtrics.SurveyEngine.addOnReady(function()
{
	/*Place your JavaScript here to run when the page is fully displayed*/
var minLabels = this.getQuestionContainer().querySelectorAll('.slider-min');
  minLabels.forEach(label => {
    label.textContent = 'Bad';
  });

var maxLabels = this.getQuestionContainer().querySelectorAll('.slider-max');
  maxLabels.forEach(label => {
    label.textContent = 'Good';
  });

});