It's Newspeak from Orwell's 1984:

https://en.wikipedia.org/wiki/Newspeak#Prefixes

It's purposefully stupid.

I personally use it to highlight issues on China. It seems to me that, like the Conservative/Liberal Party divide, the The West/China divide is more a "it's good if my side does it but bad when my opponent does it".

Use of Newspeak high lights this obserdity by replacing good with good and bad with ungood (i.e. not-good or opposite of good)