You have no idea how expensive it is to look this cheap.
Meaning of the quote
It can be expensive to look like you didn't put much effort into your appearance. Even though it may seem like someone is dressing casually or not trying hard, the clothes, hair, and overall look they have can actually cost a lot of money and time to achieve that "cheap" or effortless style.
About Steve Tyler
Steven Tyler is the lead singer of the iconic rock band Aerosmith, known for his powerful vocals, on-stage antics, and flamboyant fashion sense. He has enjoyed a long and successful career, overcoming drug addiction and personal struggles to become one of the greatest rock vocalists of all time.