English has a few stock phrases that essentially mean:
Now you have heard everything I have to say on this matter.
These "wrap-up" phrases can vary somewhat; a handful of examples include:
And there you go.
And now you have it.
And that's all there is to it.
And that's it!
NOTE
After watching the video, I think the sentence is transcribed in the wrong place. Instead of it reading like this:
I can feel what he's feeling. Although it is a frightening feeling, I admire the skill of the artist to evoke such an emotional response. I think the painting is fascinating to look at. Munch has successfully created a composition which conveys a universal emotion, a feeling that can be recognized and understood by all. I can almost hear that terrifying scream. And there you have it!
Next time you're admiring art at a gallery or museum, just remember – description, analysis, interpretation, judgment. You'll wow your friends with your deep understanding of art, and you might even enjoy yourself!
I think it should have been transcribed like this:
I can feel what he's feeling. Although it is a frightening feeling, I admire the skill of the artist to evoke such an emotional response. I think the painting is fascinating to look at. Munch has successfully created a composition which conveys a universal emotion, a feeling that can be recognized and understood by all. I can almost hear that terrifying scream.
And there you have it! Next time you're admiring art at a gallery or museum, just remember – description, analysis, interpretation, judgment. You'll wow your friends with your deep understanding of art, and you might even enjoy yourself!
It's grammatically correct in either place. As originally transcribed, it is at the end of the artist's critique on the painting, essentially saying:
And that's how I feel about Munch's painting The Scream.
However, I think it's really meant to be a lead-in into the concluding statements of the video. In other words, "And there you have it!" doesn't summarize the emotions felt by the art critic, but it summarizes the four steps of an art critique: description, analysis, interpretation, and judgment.
And there you have it.
There could be two possibilities:
Far as an adjective and is short for a far way: The word far is not a noun. It is either adjective or adverb. "I know I don't have a far way to go."
Far as an adverb: "I know I don't have to go far" would be easier to understand, but the writer placed far between have and to. In this case, far reads more like a noun than an adverb.
Regardless of its part of speech, phrases like "have far to go" and "have long to go" are used even though far and long are not a noun. They are idiomatic expressions.
[Oxford Online Dictionary]
Best Answer
In this context, "will have to do" means "will have to be acceptable, since we have no other choice". When someone says this, it implies that this outcome might be imperfect; however, other factors constrain a better outcome.