I do not think drugs are very apparent in this song. I think "high life" means the fast paced, glamorous, and simultaneously empty, life of the L.A. music scene, which certainly included drugs, that they were suddenly thust into. It scared her. I think she was scared she would lose herself and would have to look for herself (Lady from the Mountain) in the "snow dream" while she and LB were on the star stream. I think the snow dream is not coke; it is an image she wanted to present of looking herself in a blinding blizzard. The whole tired, thirsty, wild eyed, misery thing was not really what she was acutally experiencing. Rather, I think she recognized these things were the price she saw she would have to pay for the finery as she saws others certainly had paid and were still paying. I think this imagery makes this one of her best written songs.
ANDS she plays guitar and wears that incredible white dress in the video
