Can something be termed as 'good' or 'bad' objectively or is it a function of continuously evolving perspective of a majority of people?
If it sounds like an opinion then it’s most likely subjective to the human experience. The universe has no concern for earthly matters...
I consider suffering to be objectively bad because it is by its nature aversive and a deterrent. It specifically makes us want to avoid experiencing it (this is the inherent or default response, but can be overpowered by other factors, such as the alternative meaning more suffering, or feeling minor suffering that's tolerable if there's a more significant benefit, where there wouldn't be any desire to tolerate it if you got nothing out of doing so, and it was reasonably easy to avoid).
I think that objectively qualifies it for bad being defined as "unpleasant or unwelcome". If saying that something being "unpleasant or unwelcome" doesn't make it bad, that would be a different argument about linguistics, not if something can objectively be bad.
A bad event is something I don’t want to happen. A bad personal is one of whom I disapprove. Good and bad are not opposites. From a higher perspective everything is good.
I am your insufferable optimist.