It is truly glorious to be able to laugh at those who are overly ornamental. King Lear's two older daughters cover themselves with their regal adornment, but inside, they are full of poison, as just so happens to become a literal part of the play.
Imagine two birds in a cage laughing at the overly ornamental butterflies which fly around freely as if they are really special. It is what the two birds have really come to know and understand. Caged birds can sing, pray and laugh at gilded butterflies because the butterflies do not realize how fragile they are.
Sure, the butterflies are beautiful to the outward eye, but excessive show is ostentatious and quite unnecessary. Ironically, King Lear in his madness has learned much wisdom. He now knows who truly loves him and he wants to spend his days in prison with her, Cordelia, singing, praying, telling old tales and laughing at gilded butterflies. He has learned to laugh at those who are pompous in their royal positions.
It is possible to be free inside a cage. Laughing at gilded butterflies is a past time, something wonderful. Making fun of those who think they are prestigious and better than others is a truly healthy mental exercise.
Poor gilded butterflies. If only they could switch places with King Lear at this point in his life, they would perhaps have lived to a ripe old age and enjoyed every minute laughing at gilded butterflies.