The family members of the scholar-officials called their master and disciples "clouds" and got together to talk and laugh. When asked, they said, "He is almost the same as he was then, and in the same way. Humble and shameful, be an official and be close to him. " Alas! Obviously, the teacher's path has gone.
Translation:
When people like scholar-officials talked about mentoring, they got together and laughed at him. Ask those who laugh at him (the reason for laughing at him) and they will say, "That person is about the same age as someone, and his cultivation and studies are similar." How can you call him a teacher? It is shameful to take a low-ranking teacher as a teacher, and it is flattering to call a high-ranking teacher as a teacher. "
Anyway, the meaning of this passage is to admit that their previous ideas are wrong (that learning is shameful) and that the learners are laughed at by other scholars.