The ESV uses "majestic" in place of excellent. I like that word.
O Lord, our Lord, how majestic is your name in all the earth!
The psalm continues to marvel at the evidence of God we see in his creation.(verses 3 and 4).
When I consider Your heavens, the work of Your fingers,
The moon and the stars, which You have ordained,
What is man that You are mindful of him...
I've never understood how anyone can seriously consider the awesomeness of the world all around us and deny the existence of God.