True is it that we have seen better days.

The line expresses a sober recognition of decline: the speaker admits that circumstances have worsened compared with an earlier, happier or more prosperous time. In Shakespearean drama, such a sentiment often functions as a pivot from nostalgia to endurance—acknowledging loss without yet specifying its cause, and inviting the audience to measure present hardship against remembered stability. The phrasing (“True is it…”) gives the statement a proverbial, almost communal weight, as if the speaker is voicing a shared truth rather than a private complaint. Without a verified play/scene, the precise dramatic stakes can’t be fixed, but the meaning remains a concise lament for diminished fortunes.