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Contentment is as good as a feast.
Literal
Contentment [topic-は] feast [same-と同じ位] splendid thing.
A pithy proverb on contentment. 同じ位 ('about the same as,' 'as much as') is a comparative expressing rough equivalence. 結構 here is the 'splendid, fine' adjective sense (not the 'no thanks' refusal sense). The line ends with a bare noun and no final copula — pure noun-ending aphorism (体言止め), a typical proverb shape that lends compression and force.