Well the look on the cake it is not
It is not always the taste

from The Black Keys – Next Girl Lyrics on Rap Genius

Meaning

Simply because the cake looks appealing does not necessarily mean the cake also tastes good. In this case the cake is a female.

Also may allude to the old adage “You can’t have your cake and eat it too” which means you can’t always have both of the things you want.

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