In this case, it refers to a person with no decent qualities. A despicable person of less value (as a person) than even a sack of wet sawdust. A person with no empathy for others, no interest in anybody or anything other than themself/themselves. Their only focus is getting what they want. This can be in terms of monetary gain, political gain, influential people gain, business opportunity gain, and more. It can also be a combination of two or more of the aforementioned.
A No class person may be a member of the elite group. However, it is meaningless. They have their money and possessions, nothing else.
There are folks in the working class with no class. They too will often exhibit disgraceful, disturbing, disgusting behavior.
No class people tend to be crass. Vulgar. Mean spirited. Self absorbed. Clueless about the world. Clueless about others.
The no class person is best to be avoided. While one might have a moment or two of basking in the glow of some sort of success and happiness while associated with them, it will end abruptly and with likely criticism by the person they had viewed as a good person and friend.
People are often placed in a class system. This basically means how others see them and treat tyem.
First class , second class, third class, low class, high class, upper class, classless/no class.