What does Hamlet mean when he says a “king may go a progress through the guts of a beggar”?

Hamlet is trying to humble the king. He is trying to explain how a king is no different than a beggar. Hamlet goes through the cycle of life: a king dies-worms eat him-a beggar fishes with a worm that has eaten from the king- the beggar eats the fish and hence the king goes through the guts of a beggar.