I'd definitely support fragile's view. Regardless of what the music video has, it sounds like they're having problems with a long distance relationship, or facing another hardship against them. ("We've got our backs against the ocean, It's just us against the world" - No one is there for them but themselves, and the world is fighting against them.) He tells her that they can have "All or Nothing," no halfway doing that kind of relationship, but he really feels that they have something together.
They aren't sure that they can weather the distance from each other, but they try anyway ("Being apart's a little hard to bear" / "With you, I know that I'm good for something So let's go give it a try"). For this couple, it works out.
I'd definitely support fragile's view. Regardless of what the music video has, it sounds like they're having problems with a long distance relationship, or facing another hardship against them. ("We've got our backs against the ocean, It's just us against the world" - No one is there for them but themselves, and the world is fighting against them.) He tells her that they can have "All or Nothing," no halfway doing that kind of relationship, but he really feels that they have something together.
They aren't sure that they can weather the distance from each other, but they try anyway ("Being apart's a little hard to bear" / "With you, I know that I'm good for something So let's go give it a try"). For this couple, it works out.
Beautiful song, however interpreted.