Lyric discussion by Coachskau 

Cover art for Nemeses lyrics by Jonathan Coulton

This seems to be sung from the perspective of a man who has an unhealthy obsession with being somebody's "nemesis." Though, in reality, the person this man is "nemeses" with actually has no idea.

The first stanza implies that the singer possibly knows/knew the object of their hatred, and is convinced that they're hiding a much darker personality than they seem to project. "I can see you start to wonder" is likely just a hopeful observation, though it's perhaps their nemesis has begun to suspect -something-.

The chorus is basically a summary of the singer's desire to be nemeses with this other person, obviously idealized in a manner that reminds me of the "Guild of Calamitous Intent," in The Venture Bros.

The second stanza implies that the singer has developed a "plan" to bring about the downfall of their nemesis...without actually having had one to begin with. Now that they've found the perfect person to hate, they feel that this grand plan is justified. They're definitely painting a crazier picture of themselves, romanticizing the concept of an enemy as if they're in some kind of superhero comic.

The third stanza tell us that the singer's nemesis does not, in fact, know the singer very well at all. The singer misinterprets this as a calculated move on their part.

And the fourth and final stanza exposes the singer's uncertainty about whether this other person is actually aware of the situation. However, the singer takes this in stride, content to "keep [their] back in view" until the perfect move against them can be made.

Were I to predict the singer's future, I'd feel it's safe to say that they'll never do anything until one of them dies. If their "nemesis" dies first, the singer will likely take credit for that somehow and live the rest of their life in smug satisfaction.

My Interpretation

such as devious, doable, dubious perception, luv it:)