I've always found this song to be about being drawn to losing your own sense of innocence, only to discover that there's no epiphany, no greater good in the doing so. In this case, the other voice (which I've always heard as male, but whatever) and at the end he's confronting her, telling her that he's been to hell and back, and part of what he loves about her is that she hasn't, and he's warning her against trying to prove that she can brave "the ocean" while he knows it has nothing to offer.
I've always found this song to be about being drawn to losing your own sense of innocence, only to discover that there's no epiphany, no greater good in the doing so. In this case, the other voice (which I've always heard as male, but whatever) and at the end he's confronting her, telling her that he's been to hell and back, and part of what he loves about her is that she hasn't, and he's warning her against trying to prove that she can brave "the ocean" while he knows it has nothing to offer.