I've never heard that. It makes no sense to me maybe 'it just about manages to do the minimum it's supposed to do' but ppl should just say that then.

The Dutch are the worst for little sayings like 'We'll knit an end on this now' or 'we're not sitting here for bacon and beans!' It makes life difficult for non-native speakers like me, actually feels a bit racist because it's excluding people who didn't grow up listening to the utter nonsense secret code jargon :-/