Lyric discussion by newexperiment 

Cover art for The Greenless Wreath lyrics by Sleepytime Gorilla Museum

The thoughts of someone on their death bed.

Even though your interpretation makes so much more sense, seems much more obvious and made me go "Duuuuuuuuuuuuuuuuuuuuuuuuuh.................. of course.............." I probably never would've determined that without someone else saying it first. Regardless, my initial thought was that it was about someone who had cloaked themselves in self-deception their whole lives and these lyrics represent the moments in which the cloak was lifted during some kind of great awakening/revelation/epiphany.

Think your explanation takes the goddamned cake.