That's an interesting phrase to try to translate. The idea to "I might as well be X" is "If I was X, I would be in a better state/position", or at least "I would be in the same situation". It is usually used in an ironic sense, where X seems to be a lot worse, except in the situation you are talking about, e.g. "I might as well be dead, given how often my friends visit". In this case, the idea is that if I was dead, I would still see my friends as often as I do now. I wasn't sure what it meant in your song, without more context, so I found the lyrics. I think it means that he has the view, but the scenery is no use to him, as he is not looking out the window, or even interested in it.