No it isn't because it's shortsighted and infantile. It negates to note the consequences of indirect damage caused by people "doing their thang" which is a real cost of doing business in a society.
It is a simplistic slogan for simple minds, but it is not an accurate or sensible philosophy of government. Government cannot be neutral in the struggle between good and evil, it must take a side or it will be swept away along with any populace so foolish as to follow such a governing philosophy.
Having seen the totality of what government has mandated as "good" (e.g., taking from the productive to give to serial bastard-makers and other leeches) and proscribed as "evil" (e.g., protecting unborn persons) for several generations now, I think neutrality sounds great.