Worse.
It’s not just good, it’s good enough!
Better
Depends on how you say it and in which context.
A shrug and a “pretty good” = acceptable, not worth complaining about.
A slow grin first or it being said loudly = better than good, great.
Although this depends on how emotive the speaker is.
I think it depends on what expectations were.
You and your friends make a horror movie and it’s better than you thought: Hey, that’s pretty good.
Steven Spielberg makes a mediocre horror movie: It was pretty good.