Insistence on well rather than good has resulted in a split in connotation: well is standard, neutral, and colorless, while good is emotionally charged and emphatic.

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WELL definition: 1. in a good way, to a high or satisfactory standard: 2. very much, to a great degree, or…. Learn more.

1. In a satisfactory condition; right or proper: All is well. 2. a. Not ailing, infirm, or diseased; healthy. See Synonyms at healthy. b. Cured or healed, as a wound.

Sometimes an adverb like well is so often placed in front of and combined with a certain past participle in order to modify it that the resulting adjectival combination achieves the status of a common word and …

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a — used in phrases like might as well and may as well to say that something should be done or accepted because it cannot be avoided or because there is no good reason not to do it

You say well to express your surprise or anger at something that someone has just said or done.