Many words have multiple meanings but not many words have different meanings in the same context. Fine can mean both very good-to-excellent and acceptable but probably below average. For example, the phrase "that is a fine retelling of the story". Which version of fine is meant? You only really know based upon the context of what is used. Are there examples of other words like this?
Edit 1: As an example, as an undergrad I went to a school with narrative evaluations. As a student, you'd write a paper. If the prof would say, "You used good examples — a fine paper" it would mean acceptable. "You used very good examples — a fine paper"; it would mean exemplary (somewhat implying that 'very good' is understating it.