[10] It Is What It Is received critical acclaim, with critics praising Thundercat's typical sense of humor in his lyrics and bass playing, as well as Thundercat's way of expressing emotions - in particular, his grief over the loss of long-time close friend and collaborator Mac Miller, which feeds into many of the musical and lyrical elements of the album.

[16] Writing for AllMusic, Andy Kellman gave the album a positive review, stating that "As on the earlier Thundercat LPs, outer space and homeboy escapades, comic courtship and elusive companionship, and philosophical insights also inform the material."

Filled with gentle reflections on love and loss, mixed in with the star bassist's signature sense of humour and funky beats, it is exactly the record the world needed."

"[12] Roisin O'Connor of The Independent favorably compared the album to its predecessor, Drunk, stating that both records "continue to reflect on Thundercat's acceptance of his own mortality, veering away from an almost-claustrophobic grief and into deeper contemplation.

Its inclusion here gives a comforting indication that, for all of the album's heavy rumination on life, death and healing, Thundercat can still kick back when required."

[21] In a more mixed review, Kitty Empire of The Observer stated that "The track-listing also finds ample time for these more dense jazz-funk fusions – hyper-speed snippets like How Sway, where Bruner reminds listeners he isn't from the mainstream, he's just visiting from somewhere altogether gnarlier.