I think the lyrics are about getting into a relationship you know you're going to regret later, but doing it anyway. Everyone loves that first flash of infatuation when you're in a new relationship. But they know from the get-go that they're no good for each other, so screw it, "let's go to town and burn it down", let's ride this doomed relationship for all its worth. They know they're headed for heartbreak, and there's going to be "hell to pay", but the protagonist has had his heart broken so many times, it's familiar (even comfortable) territory, as when he sings "that's ok, I know the boss".
I think the lyrics are about getting into a relationship you know you're going to regret later, but doing it anyway. Everyone loves that first flash of infatuation when you're in a new relationship. But they know from the get-go that they're no good for each other, so screw it, "let's go to town and burn it down", let's ride this doomed relationship for all its worth. They know they're headed for heartbreak, and there's going to be "hell to pay", but the protagonist has had his heart broken so many times, it's familiar (even comfortable) territory, as when he sings "that's ok, I know the boss".
Anyway, that's just my take on it.