What is the meaning of "Might as well" and how to use this phrase?

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"Might as well" = to suggest something is inconsequential or low-risk.

"I had to go to the supermarket for eggs. Bread was on sale, so I might as well buy that too." = "I should also buy bread while it is cheaper than usual."

"This book is so hard to read, it might as well be written in an alien language."
=
"This book is so hard to read, it's just as difficult in English as if it was written in an alien language."

"While my car is getting repaired, I might as well watch some videos on my phone." = "While my car is getting repaired, I should watch some videos on my phone, since I have to wait a long time anyways until my car is ready."