The document discusses three key factors that determine whether a product is good: 1) Value - whether the product promises to help users and has a clear value proposition and goals. 2) Audience - whether the product reaches the intended target users. This involves target group analysis and talking to users. 3) Design - whether the product works well and has a nice design in terms of structure, functions, user experience, user interface, and vision, which should all be tested. The document emphasizes the importance of these three factors for a product to be successful.