Can this also mean evil?
Yeah. Two notes though:
Thanks for the tip!
No. Evil in Hebrow mean רשע
it can but evil would be more correctly said
So "not bad" as in "well-done" would be לא רע?
Is this a moral/ethical statement?
Anakhnu tovim, lo raim.
זֶה בְּדִיּוּק מַה שֶּׁרָעִים הָיוּ אוֹמְרִים!
We are redundant, say the same things again!
Thought it meant mean?
No, mean is רשע