>To be extremely good, so that nothing is likely to be better
>To be not very good and unlikely to improve
>As good as is possible; impossible to improve upon.
>Used when you are saying that a situation is not going to get any better.
Example
>People are asking themselves, is this as good as it gets?
>This job is probably about as good as it gets
>The past year has been very special — as good as it gets as far as I’m concerned.