The phrase might be suggesting that we can't expect real - life events to be as satisfying or as narratively coherent as what we read in a good novel. Novels are a form of escapism where the author can control the story to end well. However, life is more complex and unpredictable, and there will be situations that are far from 'good'.
It could imply that in real life, not all events are as positive or ideal as those that occur in a good novel. In novels, things are often crafted to be more perfect, but real - life is full of uncertainties and not - so - good situations.