How is “it is just as well” used?

In You Can't Take It with You (1938), one line is: “It's just as well. I'd have been the next one to strip.”

Which movie is “it is just as well” from?

The clip at the top of this page is from You Can't Take It with You (1938).

It's just as well. I'd have been the next one to strip.

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