Everything's okay, no sweat, all is forgiven. Based on the premise that bad habits (jones) are often possessed by geniuses (masters), so the message is, "Hey, even the best of us mess up now and then."
Guy 1: Bro, I'm really sorry I dented your car when I passed that semi in the no passing zone; I assume you'll never lend me your car again.
Guy2: Eh, alias jones, alias masters. Just glad no one was hurt.
when something is really great / something nice is happening
Brian: Man yesterdayâs chick went home with me and even had white toes
Jack: Wasu, good job brother