I fully agree with the previous comments regarding enjoying yourself and giving your all in whatever scenario you're playing in.
If you're comfortable in your musical surroundings then you're good enough.
As a working studio and live bassist, 2 things have been important to me above any other.
1. Recognition and appreciation of different genres of music.
2. The ability to play clean and reliably first time.
I've NEVER been asked to solo like Pattitucci or Wooten but I often get told to play, say, 2-step, bluegrass or reggae.
In the studio, time is money. You often have time pressures so getting it right, quickly, is paramount. Being able to come up with a line or groove in a certain style is crucial but 1000 notes per bar is not. Backing artists live, requires precision, accuracy and reliability, reproducing lines from records with little or no room for embelishments or improvisation.
So for me, 'good enough' means reliable, flexible and capable in any style. None of these skills require Grade 8 theory, the ability to solo in any mode or slap Teen Town at 120bpm.