「Compared to the unfavorable situation of ~, ... is somewhat better.」 Used when the speaker is expressing a subjective opinion rather than an objective fact.
例:
1. 毎朝自分で弁当を作るくらいなら、コンビニ弁当でいい。
I'd rather buy a convenience-store bento than make my own lunch every morning.
2. 気が合わない人といっしょに生活するぐらいなら、このまま独身でいたい。I'd rather stay single than live with someone I'm not compatible with.
3. 30分も遅れて説明会に行くくらいなら、参加しないほうがいい。If you're going to be 30 minutes late to the briefing, it's better not to attend.
4. やせるために好きなケーキをがまんするくらいなら、今の体型のままでかまわない。I'd rather keep my current figure than give up my favorite cake to lose weight.