The comment kind of made me think it was a double entendre, as in he is "out" (openly gay) and not in the "game" anymore (the dating game, not "playing for any team", etc), but the lyrics seem to suggest that it is about a speaker who has lost their youth and who is miserably watching young gay men or straight women squandering their youth by doing stupid things (maybe being too promiscuous).
The comment kind of made me think it was a double entendre, as in he is "out" (openly gay) and not in the "game" anymore (the dating game, not "playing for any team", etc), but the lyrics seem to suggest that it is about a speaker who has lost their youth and who is miserably watching young gay men or straight women squandering their youth by doing stupid things (maybe being too promiscuous).