To Whom it may concern, the phrase "it is what it is" stands to devry from the attitude of your feelings or understandings at the time of any main point conversation. If I were to say OMG my truck is on fire how do you expect the next person next to you to react? Wow, what are you going to do? Your friend asks! There is really nothing your friend could do for you, but say OMG I am so sorry. In my mind it will suggest that in my comment to say "it is what it is"! Basically there would be nothing anyone could do but be sympathetic.