In plain words
Liking, dislike and the rest, the whole of life in this changing round of worldly existence, is like a dream. While it is there it shines as though it were real. When knowledge dawns, it too turns out to be false.
Word for word
Existence in changing samsara, with liking, dislike and the rest, is like a dream. While it appears it shines as if real; when knowledge dawns, it too proves unreal.