kyaa hai gar bad-naamii-o-;haalat-tabaahii bhii nah ho
((ishq kaisaa jis me;N itnii ruu-siyaahii bhii nah ho
1) what is there, if there would not be even/also ill-repute and ruination of condition?!
2) what kind of passion, in which there would not be even/also this much disgrace?!
The verse's qalandar-like dignity, or the obstinacy/insistence of the tone, is worthy of praise. In this tone the informal way that bad-naamii-o-;haalat-tabaahii mixes Urdu and Persian is also greatly effective. There is an extraordinary carelessness; and the carelessness with which he has used language works as an 'objective correlative' [ma((ruu.zii talaazumah] for the carelessness and freedom of the speaker's temperament.
The refrain has also been incorporated with extreme excellence in both lines. Usually it's difficult to maintain such a refrain, and in the opening-verse it's even more difficult. But for the poet, who was in his prime in years and in temperament, nothing was difficult.
In the first line kyaa hai , and in the second line ((ishq kaisaa , work excellently to strengthen each other. Otherwise, with regard to the theme of the first line, instead of kyaa hai this would normally have been a place for kyaa faa))idah or kyaa ;xuub . Now, the insha'iyah style of ((ishq kyaa hai (that is, is that passion even a passion at all?) becomes a cause of additional beauty in both lines.