Green’s Dictionary of Slang

crackerjack adj.

[? US sweet Crackerjack, which contained toy police badges]

second-rate, spurious.

[US]in DARE I 826/2: An unprofessional part-time lay preacher [...] Crackerjack preacher.
[US]National Lampoon July 98: Maybe if we print more arty stuff [...] we can blow this crackerjack mag and get real jobs over at the New Yorker.
C. Crowe Fast Times 243: Good luck to all you rats coming back to this crackerjack joint [...] I laugh in your face [HDAS].