Seems like it's one of those songs about record companies (every band/artist seems to have one eventually). The band was with Jagjaguwar ("We watched it shrink, that Jag, that Jaguar.") and this album was the first with ATO. The "crocodile" guy mistaken for a god, the one described in the last verse? Probably a record executive. Though I'm not sure which company.
Seems like it's one of those songs about record companies (every band/artist seems to have one eventually). The band was with Jagjaguwar ("We watched it shrink, that Jag, that Jaguar.") and this album was the first with ATO. The "crocodile" guy mistaken for a god, the one described in the last verse? Probably a record executive. Though I'm not sure which company.