Does "live and let live" reflect tolerance or not caring at all? Aloof. Arm's length. Not my problem. The best or the LOUSIEST way to live?

Basically, live and let live means that a person has a right to live their life as they choose without someone sticking their nose in their business. Or tolerance if you will. That's basically the way most people live their lives, as it should be. However, there may be a time when one needs to and should stick their nose in the other's business. Such as child abuse, etc or anything else that may become or has become a danger to those around them.