The song is, as people mentioned, about homosexuality. Only the subject isn't questioning it, he simply isn't revealing it. Max Collins, the writer, has stated that it's about a friend of his who was really popular with women, but always preferred his company instead, and the song was written just as a way to say how obvious it was to him that his friend is in love with him. (The title also apparently came first. "What inspires you?" "Transport backpacks.")
The song is, as people mentioned, about homosexuality. Only the subject isn't questioning it, he simply isn't revealing it. Max Collins, the writer, has stated that it's about a friend of his who was really popular with women, but always preferred his company instead, and the song was written just as a way to say how obvious it was to him that his friend is in love with him. (The title also apparently came first. "What inspires you?" "Transport backpacks.")