Somewhere between indifference and mild interest.
If it's something you spent a reasonable amount of time on, it merits a spot on your CV. It might spark a conversation on what being a student ambassador is/does (i had to google it). As for if that conversation adds any value to your interview/app, meh.
It's probably up there with being secretary of your local interest group, just CV filler that'll neither hurt or help you.
(Edit: BOOM, roasted).