Take the life of a celebrity for example - It may seem like they live a good life; but in reality they are constantly hounded for autographs and have no privacy.So most people would say " all that glitters is not gold."
From the song "Stairway To Heaven." There's a lady who's sure, all that glitters is gold... so, she believes a falsehood, but one that guides her nonetheless. This is a sardonic or dark spin on the age old saying that "all that is gold does not glitter."