In Accounting, are liabilities a good thing or a bad thing?

So I have been taking a lecture on Accounting, and learned that Assets = Liabilities + Equity. Naturally, having much assets is probably a good thing. What I don’t get is that since liabilities is basically a “debt”, how can it be considered a good thing? Is it because liabilities, although it is a debt, still considered a capital that can be utilized for the company’s benefit?

Also, would that mean that Assets do not necessarily show a company’s “financial health”, that is, how likely the company will not go bankrupt?