This is a non-standard word that can’t be found in regular dictionaries.
You can usually come across it in text messages and social-media posts.
It is a spelling variation of nitó. Curiously, the accent on syllables is different for each spelling. The word nitó is pronounced crisper than the softer néto.
There are also specific contexts in which neto can replace nito. Neto can be a contraction of na + ito or ng + ito.
Palitan ang titulo nito.
Change the title of this.
Kung papalitan ang titulo neto…
If the title of this will be changed…
Ang sarap nito.
This is delicious.
Sarap neto…
This is delish…