A term that is said when something goes wrong or something undesirable happens. Typically is meant in a form of reassurance or a more modern version of it's fine.
POV: you just whiffed and cost your team the round. It is now match point. You turn your head and look at chat. It is now filled with “All good”, when it is in fact, not all good.
Meaning everything is perfect and going well in your life or current situation. Could be a question or a statement!!
Situation: You are in school and your friend asks you how your
day is going and your reply would be: "Oh it's all good in the hood"
or
Lets say you are on vacation, and you left your friends to watch your home and you want to check on things you could say " Hey are things all good in the hood?"