The literal reading of this speech by Hamlet is that ‘man is a supreme creature’. However, as with many of Shakespeare’s more famous speeches, this is open to interpretation and scholars disagree. Even the punctuation is disputed. The placement of the exclamation marks (or the commas as in some versions) changes the meaning entrely. It could be that either the angels or the gods that are being said to be admirable, for instance. Early manuscripts vary and so Shakespeare’s intention isn’t entirely clear.
What is clear is that Hamlet is saying that, although man appears to be noble and admirable, he himself can find no joy in his life or in interaction with humanity.
He wonders what man is – in reality just ‘dust’, that is, ‘stuff’. What elevates man above mere inanimate objects?