I think the final verse is all from the perspective of the House of Fingolfin, who wasn't enthusiastic about leaving Valinor, questioned the reasoning, mourned the abandoning of their homes, but felt a duty to accompany their brethren... Fingolfin was half brother of Feanor and (I think) Finwe's first heir who deferred his kingship to Feanor in order to maintain peace with his fiery hearted brother... he also knew that Feanor and his followers were blinded by passion, and they would need help and guidance in times ahead... so the House of Fingolfin walked with remorse and uncertainty into banishment and doom for little more than kinship
Dead winter reigns
And tomorrow's still unknown
(mourning the grief the have cast themselves into for the sake of a future they have little hope for)
Lies
Condemned and betrayed
Now everything is said
(after all the sacrifices Fingolfin and his followers make for Feanor, they find themselves abandoned... betrayed... and they've already participated in the kinslaying and marched past the curse of Mandos, so they see their fates as already sealed and see no choice but to face the grinding ice)
See my eyes
Are full of tears
And a cruel price
We've paid
But still I can't claim
That I'm innocent
Lost
(they're recognizing their folly in supporting Feanor's madness... they knew better all along, but chose loyalty with their brethren in the face of banishment... they're mourning the death of their innocence as they've already done terrible things (and their situation probably seems punishment to them) for the sake of their kin, and now those same kin have forsaken them as well... they're a lost people, and they're mourning)
I think the final verse is all from the perspective of the House of Fingolfin, who wasn't enthusiastic about leaving Valinor, questioned the reasoning, mourned the abandoning of their homes, but felt a duty to accompany their brethren... Fingolfin was half brother of Feanor and (I think) Finwe's first heir who deferred his kingship to Feanor in order to maintain peace with his fiery hearted brother... he also knew that Feanor and his followers were blinded by passion, and they would need help and guidance in times ahead... so the House of Fingolfin walked with remorse and uncertainty into banishment and doom for little more than kinship
Dead winter reigns And tomorrow's still unknown (mourning the grief the have cast themselves into for the sake of a future they have little hope for)
Lies Condemned and betrayed Now everything is said (after all the sacrifices Fingolfin and his followers make for Feanor, they find themselves abandoned... betrayed... and they've already participated in the kinslaying and marched past the curse of Mandos, so they see their fates as already sealed and see no choice but to face the grinding ice)
See my eyes Are full of tears And a cruel price We've paid But still I can't claim That I'm innocent Lost (they're recognizing their folly in supporting Feanor's madness... they knew better all along, but chose loyalty with their brethren in the face of banishment... they're mourning the death of their innocence as they've already done terrible things (and their situation probably seems punishment to them) for the sake of their kin, and now those same kin have forsaken them as well... they're a lost people, and they're mourning)