The water's blue, swallow the pill
Keepin' it surreal, whatever you like

from Frank Ocean – Sweet Life Lyrics on Rap Genius

Meaning

The pill (which Frank imagines as the same color as the Californian water) alludes to the 1999 movie The Matrix in which the protaganist, Neo was given the choice of taking a blue or red pill.

The blue pill would allow him to remain asleep in the dream (surreal) world of the Matrix, and the red would wake him up, showing him the grim reality of the real world.

Frank is saying that the girl is choosing to remain there. She is choosing the blue pill of domesticated paradise over digging deeper into a relationship with the narrator, someone outside of her normal lifestyle.

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