I think the song is about someone who no longer really wants to be in a relationship, but he's trying to convince himself that he still loves her. He says "I'll always follow you" but he never follows her down her "rabbit holes", so clearly he is only trying to convince himself that he's as dedicated to her as he claims. And at the end of the song he finally acknowledges that he wants to fall down his own rabbit holes without her. I know there's more to this song that I'm leaving out, especially with the "main event" (the masquerade of their relationship maybe?) but I can't figure out exactly how to articulate that part, so I'll leave that to someone else...
I think the song is about someone who no longer really wants to be in a relationship, but he's trying to convince himself that he still loves her. He says "I'll always follow you" but he never follows her down her "rabbit holes", so clearly he is only trying to convince himself that he's as dedicated to her as he claims. And at the end of the song he finally acknowledges that he wants to fall down his own rabbit holes without her. I know there's more to this song that I'm leaving out, especially with the "main event" (the masquerade of their relationship maybe?) but I can't figure out exactly how to articulate that part, so I'll leave that to someone else...