all very well Meaning in the Cambridge English Dictionary
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Meaning of “all very well” in the English Dictionary

"all very well" in British English

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all very well

(also all well and good) If something is all very well, it is ​fairlyuseful or good in some ​situations but not ​excellent and not ​useful or good in every ​situation: Electric ​heating is all very well until there's a ​powercut.
(Definition of all very well from the Cambridge Advanced Learner’s Dictionary & Thesaurus © Cambridge University Press)

"all very well" in American English

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all very well

(also all well and good) good, but not good enough or not good in every ​situation: A high-fiber ​diet is all very well for an ​adult, but it's ​totallywrong for a ​child.
(Definition of all very well from the Cambridge Academic Content Dictionary © Cambridge University Press)