Just not good enough to merit distinction (4)

I believe the answer is:

fair

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'just' is the definition.
(just can mean fair in the sense of showing justice)

I don't understand the rest of the clue.

Can you help me to learn more?

(Other definitions for fair that I've seen before include "'Just, meet (4)'" , "Show - just - lovely" , "Considerable" , "Favourable" , "promotional exhibition" .)

I've seen this clue in The Globe and Mail.

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