Can someone tell me what this Shakespeare sonnet means?

It continues the argument of the youth's great beauty, acknowledged by all, and then raises the question of his moral condition, hinting that all is far from what it seems superficially. The precise meaning of the conclusion is uncertain. It could be that he is criticised for resorting to harlots (common women), or because he is spending time in ale-houses in the company of common people. The meaning is probably ambiguous deliberately, and gives scope for both the youth and the common reader to interpret as either should think fit.