Lyric discussion by EmpireOfDirt NIN 

Cover art for The Fragile lyrics by Nine Inch Nails

I think its about a girl who is changing in a negative way, or has stopped caring about themselves because they think they're nothing. The guy is watching her fall apart and is trying to save her because he sees her as so much more then she sees herself. He's been there, and he doesnt want her in the same place he is.