Lyric discussion by Termie 

I can't really say but I think it's about the actual story of Atlantis being drowned as told by old. If you look at it that way, most of the supposed metaphors like Horses with Wings and a Big Man just melt down into the legend of Atlantis which is said in legends to have been a very advanced civilization which prospered during the ancient times but was lost after a big flood overtook the city.

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