The popular phrase, "It's all good," is used way too much. It's an expression that covers a multitude of situations. It's meaningless without context and often depends on a person's point of view on life in general.
King Solomon used a phrase throughout the book of Ecclesiastes that conveys the opposite—"It's useless...!" (Eccl 1:1 NCV). A more current way to say it is, "It's a waste of time!"