Lyric discussion by kakashi65 

Cover art for Heroes Die lyrics by Horse the Band

I've always also thought that it's a progression through warfare.

We hear the war drums of ancient times lead into bow/arrow noise, clashing with swords and armor to a slight gun sound (I believe), then to lasers in a very Star Wars (but not representing of) sound.

I think the title of the song contains the meaning of it pretty well, if you couple it with the sound effects. No matter what era of warfare, heroes will die.