I dunno if I would classify it as "good good lighting"...but for diffused flash on-camera, I'd say it's "good" lighting. I think to qualify as good good lighting, I would want to see it be a bit more-diffused, and with a softer shadow. A wedding tog I used to know used to shoot his flash shots with a custom-modded Normal Enterprises 8-inch parabolic reflector and a white, nylon fabric "shower cap" kinda' diffuser, and with a massive bare-tube flash fitted into the Norman "bowl", his flash shots had a very diffused lighting quality to them...it was amazing...the bare-tube flash maybe giving that small reflector an advantage over say, a speedlight flash, which has a Fresnel lens in the front.
The shadows that your set-up creates seem placed appropriately and pleasingly to me...under the chin shadows that give shape and define the faces, without the light being ultra-hard. It looks like diffused, on-camera flash.