Lyric discussion by candycoated 

Cover art for Fake Your Death lyrics by My Chemical Romance

I'm torn, from what we know about the album supposedly going to have been about a councilling group for parents who had lost children, some of this fits, I'll pick out certain lines -

Some people watch, Some people pray But even lights can fade away - (Picture the child in a hospital bed, possibly in a coma, the parent just watches their child helplessly, or they pray for their health to get better, and the light fading away is the parents' fading optimism)

Some people hope, Some people pay But why'd we have to stay - (As in obviously the parent hope's their child gets better, and they pay for the best possible doctor in the country to tend to their child in the hopes it'll work, not too sure about the last line)

But then as I read on, even if Gerard meant this to be about the concept of the album, I think deep down he was writing how he felt about the band and where he stood, the whole of this below you can't deny shows something that I think is about the ending of the band -

'Cause even heroes get the blues, Or any misery you choose. You like to watch; we like to use, And we were born to lose.

I choose defeat. I walk away, And leave this place the same today. Some like to sleep; we like to play. Just look at all that pain.

You want the heart or to be saved, But even good guys still get paid.

I completely agree with the last part. This song could be how Gerard felt about the band. But I don't agree with "I walk away, and leave this place the same today" it's not the same place anymore.

@candycoated I would think the last line in "Some people hope, some people pay, but why'd we have to stay" could refer to the death of the child and how the parents have to continue living.