Haha Seymour, right on (although we could do without the "fucking").
I think the meaning is quite obvious. The narrator's love life is going to hell and he wants to confront God/Fate (the captain, for the metaphorically challenged) to find out when he's finally going to be happy ("when the next wave is the last wave"), and if he's in control of his own life at all ("just who is steering and who's merely holding on").
Haha Seymour, right on (although we could do without the "fucking").
I think the meaning is quite obvious. The narrator's love life is going to hell and he wants to confront God/Fate (the captain, for the metaphorically challenged) to find out when he's finally going to be happy ("when the next wave is the last wave"), and if he's in control of his own life at all ("just who is steering and who's merely holding on").