This is the 10427th most frequent Russian word.
великолепно
Magnificently; splendidly.
In this context, "великолепно" is used to express high admiration for the painting's appearance.
Эта картина выглядит просто великолепно.
This painting looks simply magnificent.
Here, "великолепно" is employed to describe the superb quality of the orchestra's performance.
На концерте вчера оркестр звучал великолепно.
At the concert yesterday, the orchestra sounded magnificent.
In this sentence, "великолепно" emphasizes how exceptionally well the costume suits the person.