I would agree with the previous comment and add that they're also to some extent calling the musicians themselves on cultivating those attitudes. Most of the first verse ("selling faux sermons" "if you're going to preach then for god sakes preach with conviction") seems more directed at the performer than the audience. When he says "we are graced by two displays of character" he's differentiating between two groups: bands and audiences. The bands are singing about their bleeding hearts and their fans are going home and complaining in their blogs about how they slit their wrists at night, and Ryan sees that they're all bullshit. Fantastic song.
I would agree with the previous comment and add that they're also to some extent calling the musicians themselves on cultivating those attitudes. Most of the first verse ("selling faux sermons" "if you're going to preach then for god sakes preach with conviction") seems more directed at the performer than the audience. When he says "we are graced by two displays of character" he's differentiating between two groups: bands and audiences. The bands are singing about their bleeding hearts and their fans are going home and complaining in their blogs about how they slit their wrists at night, and Ryan sees that they're all bullshit. Fantastic song.