Yes pretty much this. It’s subjective based on an enormous number of factors. Your lifestyle, your personal experiences, reading too much news (especially in the US), having a pessimistic attitude towards everything, your general personal beliefs and how they align with the world. The list goes on. Many of these factors can be personally influenced.

For example, I live in the Bay Area and love it, have lived here seven years now. I had a friend live here for three years and tell me how terrible it was and listed off all the terrible things about it. The experience was subjective and I respect that; he found a way to have a more positive life by leaving and good for him.

Not all things are equal, especially our perceptions of the world.