The word used in Genesis 1:31 Hennah Tov is usually translated as either 'very good' which is the most common translation throughout the bible, or rarely 'excellent'.
Each thing created individually, except the firmament was considered good. The firmament being a barrier of separation on day 2 is never referred to as something that is good.
Although God calls the firmament Heaven, this is eluded to as a medium that separates the High Heaven where God dwells from the lowest heaven where man and earth are positioned.
In verse 31, the 'very good' does look like it is said in response to how the collection of good creations are operating together.
The idea that good creations are collectively operating together serve a specific goal and function. So the question arises, "What is the goal and why are they functioning like this?"
The word study on "very good" can give a small list of translations, but none of which that can be synonymous with perfection. Perfection is something that is incorruptible, unchangeable, infallible, unmovable, and is so eternally. All creations, including the angels are never created as perfect, being that everything has fallen including some of the angelic beings.
This would be a good argument against the Son of God being a product of creation.
The problem is that if we were to say that perfection can be made imperfect, then God is fallible and can be made corrupt over time, which cannot be the case.
Perfection cannot fall, cannot be moved, cannot be tempted, cannot sin. Perfection is a state of eternal being that is not subject to corruption.
If the earth was created good, man was created good, and everything functioning together as very good, then what is the function for? What is its intended purpose?
John 1 - All things were made through Him, and without Him nothing was made that was made.
Hebrews 1:2 - His Son, whom He has appointed heir of all things, through whom also He made the worlds
This, contrary to popular belief, states that the Son actually made everything according to the will of the Father.
The plan is to make something that was good become perfect over the process of time through love by Him, using the corruption that attached itself to the good imperfect creation to be the tool that would allow the creation to be elevated from imperfect to perfect.
1 Cor 15:53 - For this corruptible must put on incorruption, and this mortal must put on immortality.
54 So when this corruptible shall have put on incorruption, and this mortal shall have put on immortality, then shall be brought to pass the saying that is written, Death is swallowed up in victory.
55 O death, where is thy sting? O grave, where is thy victory?
The Son creating everything good in the beginning so that through Him, the good creation can experience life, death and possibly eternal life through Him and become a perfected finished product that is worthy to be presented to the Father as the perfect bride for the Son.
The theme of imperfect to perfect, corruptible to incorruptible, old to new is an ongoing theme throughout both the OT and the NT
Rev 21:5 - And he who was seated on the throne said, “Behold, I am making all things new.”
The making of all things new does not seem to imply a totally new creation, but rather something that was previously existing being made better or 'renewal'.
The idea of renewal is everywhere and is the process from the beginning to make perfect what was originally imperfect.
Rom 12:2 - be transformed by the renewing of your mind
2 Cor 4:16 - our inner man is being renewed day by day.
Col 3:10 - put on the new self who is being renewed to a true knowledge according to the image of the One who created him (The Son)
Col - 3:11 - a renewal in which there is no distinction between Greek and Jew
Ps 51:10 - renew a steadfast spirit within me
Ps 104:30 - You renew the face of the ground.
Tit - 3:5 - He saved us, by the washing of regeneration and renewing by the Holy Spirit
Mt 19:28 - “Truly I tell you, at the renewal of all things
Ez 47:8 - When it reaches the sea, its waters are healed. 9 And it shall be that every living thing that moves, wherever the rivers go, will live.
The earth and people were created to go through a process of renewal that goes from imperfect to perfect.
Gen 1:31 - Then God saw everything that He had made, and indeed it was very good
Rev - 22:13 - I am the Alpha and the Omega, the First and the Last, the Beginning and the End.
14 “Blessed are those who wash their robes, that they may have the right to the tree of life and may go through the gates into the city.