Thanks for giving me the opportunity to think about this.
As living human beings in this universe, we label things “good” or “bad”. Generally, when something benefits us, we consider it good. When something threatens us we consider it bad. (I think the words “benefit” vs “threaten” might make a stronger argument than “pleasure” vs “pain”.)
These labels are dependent on our experience. Without a living experience and a need or desire to survive there is no need to use these labels. In a different experience that might lack the concepts of threat and/or benefit, these labels would be unnecessary. Thus, neither “good” nor “bad” are objective. I think these are very subjective labels that benefit us (or not) in this particular kind of experience (being a human being that wants to survive).