A word which in the past meant that something was exceptionally good, or to express great pleasure:
Its strength has been eroded by overuse, and it can now be used to respond to any mildly pleasing news. Somehow the extreme unctuousness and insincerity of this tends to go unrecognized or is an occasion for the self-gratifying feeling that one is being tolerant.
In the olden days:
Smith-"Everyone has the day off tomorrow!"
Waiter: "Are you ready to order?"
Customer: "err, yes..."