Sometimes I feel like a thoughtless child when I catch myself using expressions that show a lack of sensitivity for people suffering.
Other times I feel like the expression in question has some insight or specitivity when used in certain contexts, no matter how overused or unfortunate the term might be in general.
“Crazy good” might be a callous expression, but “crazy good art” has some references beyond the association of genius and mental illness and suffering and the classic heart-breaking examples like Van Gogh.
I think there is some artist-to-artist meaning communicated in the phrase, and it is a reference to the “post-project blues” and the level of commitment required to make the piece in question. It is a high compliment expressed crudely for emphasis.