This sentence means that women are not worse than men, and sometimes even better than men. Women and men represent women and men respectively, and beauty refers to beautiful women.

"Women don't let a man have a beard, women don't let a man have a beard" is still widely used to encourage women to give full play to their abilities and potentials, and remind people not to judge a person's abilities and values by gender, but to pay attention to their actual performance and contribution.