It's interesting to compare it to Elliott Smith, and a few lines make sense that way ("you only hurt the one who loves you", "You won't live long But you may write the perfect song") but I think its just about the music industry. Die of thirst i.e go broke while playing the music you want or drink up from the poison well, i.e make the money with the corporation but kind of sell you soul. The last line, which seems the most like an Elliott reference, I think just means, you might write a famous song to please everyone, but don't hold it against him for not wanting to take part in the people pleasing business.
It's interesting to compare it to Elliott Smith, and a few lines make sense that way ("you only hurt the one who loves you", "You won't live long But you may write the perfect song") but I think its just about the music industry. Die of thirst i.e go broke while playing the music you want or drink up from the poison well, i.e make the money with the corporation but kind of sell you soul. The last line, which seems the most like an Elliott reference, I think just means, you might write a famous song to please everyone, but don't hold it against him for not wanting to take part in the people pleasing business.