What is the significance of the term "Good Neighbors"?

They call them the 'good neighbors', it's an ironic name for the faeries because they call them the good neighbors, but it doesn't actually mean that they think of them as the good neighbors, it mean they say "we're going to call them the 'good neighbors' and hopefully they will continue to behave like they are the good neighbors because it's very possible that we might make them angry by some business in which we didn’t intend to make them angry and they're going to seek retribution or they're going to decide they want something we have and take it."