First off he was risking 1,7x the money, he could win, but since you already put in a bet, you only had to call the difference between your bet and his raise, so his raise was actually pot sized and not a 1,7x overbet. He probably hit the "pot" button, which most
poker sites offer.
With that out of the way, there are two different ways to look at this situation. You can attempt to play GTO and follow your MDF, which in this case is somewhere around 35-40%. Meaning you have to call with the top 35-40% of your range to make
bluffing unprofitable for him.
Depending how you play, AA is almost certainly in that top 35-40%, so you should call. However if he put you all in on the river, AA will then be a fold on most runouts, since you got rid of most of your worse
hands on the turn.
The other approach is the exploitative one, and from that standpoint I think, this is a good fold. It would be nice to have some info on the Villain, but at 10NL and below a lot of players are just never bluffing with this line and sizing.
He pots it on the turn, because he want to stack off on the river, and he wants to stack off, because he has essentially the nuts. Or at least something, that can beat a one pair hand. Maybe he flopped a set, or maybe he hit his gutshot with 7d6d or 7h6h. Something of that nature.
And if that is our read, then why waste money calling on the turn? We know already, the river jam is coming at an enormously high frequenzy, and we also know, we are going to be folding to it, unless we spike top set.
So as long as, you dont show the table, you folded AA, this to me is a good fold at 10NL and lower. At 25NL and higher, I would be more hesitant to do it, since the regulars tend to get more balanced, as you move up. But for 10NL and lower not paying of people, who are not balanced, is actually one of the ways to beat those games.