Phrs. A catch-phrase that expresses that a situation could be much worse, hence one should be grateful. Also 'better than a poke in the eye with a sharp stick'.
BETTER THAN A POKE IN THE EYE WITH A BLUNT STICK
Meaning of BETTER THAN A POKE IN THE EYE WITH A BLUNT STICK in English
Slang English vocab. Английский сленговый словарь. 2012