It can mean various things. It dependens on how you use it in a sentence. You can use it in negative term or positive term. Negative term- awful, terrible, not a good situation to be in. Positive term- awesome, happy at what just happened, someone achiving something that you like.
Negative term- The weather today is so patrocious, i am going to need three goddamn jackets.
Positive term- Damn, that blunt is so patrocious.
A Shackteau is a humble, weather-beaten, structurally questionable shelter located in a spectacular or highly coveted place—Wales, Jackson Hole, Sun Valley, Crested Butte, coastal Maine, the Alps—where the building itself may be worth almost nothing, but the dirt, view, access, and mythology make it absurdly valuable.
In use:
Shackteâu - We thought it was an abandoned shed until the realtor called it a rare alpine Shackteâu with unobstructed views and listed it for $2 million.