You gotta look at who's saying what and why.
If you leave it up to objectivity, with no context as to why it's became something to say, it sounds like the right thing, IMO. All lives do matter, but the minute you look at how the term came about you realize that it's not a mantra of peace or unity, it's an invalidation of the notion that while all lives matter, the black lives are the only ones in jeopardy. There are going to be people that try and take that at face value and miss the point entirely.