The song doesn't follow the myth strictly because Maiden changed it slightly to be about teenage rebellion. In Maiden's version of the myth, Daedalus tells Icarus to "fly as high as the sun", so Icarus, in the song being obedient, does what his father told him, only to realize as he's falling to his death his father betrayed him.
It's basically saying sometimes Mommy and Daddy don't know best, and a little rebellion isn't a bad thing...
The song doesn't follow the myth strictly because Maiden changed it slightly to be about teenage rebellion. In Maiden's version of the myth, Daedalus tells Icarus to "fly as high as the sun", so Icarus, in the song being obedient, does what his father told him, only to realize as he's falling to his death his father betrayed him. It's basically saying sometimes Mommy and Daddy don't know best, and a little rebellion isn't a bad thing...