"
Looking around here you'd think
Sure, she's got everything
This part is where she is saying that if you look around the cavern you would think that she has everything but she sings this in a tone that implies longing. She may appear to have a perfect life, with everything that a girl could ever want and more but she feels that she doesn't. Ariel is a free spirited girl and as such she is trapped. She doesn't care about the material things, all she wants is her freedom.