[Lxr]

Similar to 厉害 in Chinese - it often translates as terrible, but mostly used to mean great.

[gwd]

"Awesome" and "Aweful" have similar etymologoies: both mean, "Inspiring or creating awe". But one has morphed into, "really good", and the other into "really bad".

[thaumasiotes]

Likewise "terrible" and "terrific".

[thaumasiotes]

I believe "terrible" in the sense given for 厉害 is as in "I am Oz, the great and terrible", not the ordinary sense of the word.

[dwohnitmok]

This. It can be used more colloquially than the equivalent meaning of "terrible," where it's closer to something like "awesome." It can also generally used as a marker of intensity. In no case does it mean "bad at something."

[UIZealot]

Can you give an example where it means terrible? I can't think of any.