Nothing so bad but might have been worse

Nothing so bad but (it) might have been worse.

Prov. Although bad things do happen, they are not as bad as other things you can imagine that might have happened. Joan: This is like a nightmare! My house burned down—I lost everything! Nancy: At least you and your family are safe. Nothing so bad but might have been worse. My bicycle tire blew out, but at least it blew out within walking distance of a repair shop. Nothing so bad but it might have been worse.
See also: bad, been, but, have, might, nothing, worse