Lyric discussion by writelikeness 

Cover art for Do The Dohnk lyrics by Max Bemis and the Painful Splits

I think this song is about sex being a very spiritual and good thing ("leave our bodies," "you'd be a foold to call it lust") because you connect with someone in a special way that is "unafraid of nothing left" and you "become one" (biblical reference). Max is married now and he's singing this with his wife, so that's what I think. His perception of sex has probably changed.

I don't know why there is emphasis on "wasted time." Maybe someone told him sex is bad or a waste of time so he's saying it ironically.