"Not in the traditional sense, I'm sure. But I suspect she wasn't much of a lady, either."

It's not a criticism of the woman herself, given the way she tones it, but rather a criticism of the phrase and all of its confines. No woman fits the bill for 'lady,' not truly, it's just a matter of what she puts on, and she imagines that very lady put on a very satisfactory smile and reassured her husband he was by no means coming up short until a pirate came to convince her she needn't continue.

Emma's not so easily won over, as she's never truly felt the need to be confined in her attitudes to the role of princess; in her behavior and her actual life direction, yes, she's been confined to the grounds of the castle, give or take a few miles, where the guards may protect her. But she's certainly never pretended to be anything but sour about that, or let anyone believe she's pleasant when she feels otherwise.