Well,dictionary.com explains a pipe dream as a fantastic notion or a faint hope, so I'm guessing that it is either the hope that the kid doesn't end up like his or her dad, or the hope that the father is just going to stop being an alcoholic. The 'looking for another you and I found another you' could mean that there are alot of children that have parents that are alcoholic, that he/she is not alone.
Well,dictionary.com explains a pipe dream as a fantastic notion or a faint hope, so I'm guessing that it is either the hope that the kid doesn't end up like his or her dad, or the hope that the father is just going to stop being an alcoholic. The 'looking for another you and I found another you' could mean that there are alot of children that have parents that are alcoholic, that he/she is not alone.