Lyric discussion by cassandro 

Cover art for She lyrics by Saves the Day

I don't know, "SHE" is probably just a metaphor for someone Chris loves, not necessarily a boy or girl. I think you're right about the lyrics in how she thinks she's unworthy or ashamed, but I think is referring to his audience as a whole, like everyone that listens to Saves the Day and thinks of them as a seperate and more important being. I think he's trying to say that the audience is as important as the band.