Fugaces translates to "fleeting" or "ephemeral". It's a beautiful and somewhat poetic word that isn't as common as everyday adjectives.
In the song, Carlos Sadness sings, "Donde nadie vuelve y fuimos fugaces" (Where no one returns and we were fleeting). He uses this word to evoke a sense of a precious, transient moment in time, highlighting the temporary yet impactful nature of a past relationship or experience. It adds a touch of wistfulness and nostalgia to the lyrics.
"Todo Estaba Bien" is a song about wanting to rewind a relationship to its first minute. Carlos Sadness opens on the wish itself — "Y lo bien que estaría volver a conocerse" (and how good it would be to meet each other again) — and the chorus he shares with Manuel Medrano names the window that has already closed: "Cuando todo estaba bien, cuando me querías ver" (when everything was fine, when you wanted to see me).
The tenses are what give it away. The list of small domestic things starts in the present — "Me gusta cuando vamos a la playa" (I like it when we go to the beach) — and then slips: "Me gusta cuando me hacías café / Aunque tú solo tomaras té" (I like it when you made me coffee / even though you only drank tea). Same sentence shape, one verb moved into the past, and the memory is over. The coffee-and-tea detail lands harder than any of the big declarations around it, and "Cada día hay un amanecer / Pero nunca lo veo" (every day there's a sunrise / but I never see it) is what all those nights cost.