I think it's simply that the songwriter (or writers, in this case - being Mike Rutherford and Tony Banks) is/are in sympathy with this mythical being named Squonk in the book by William Cox. The squonk is a "creature of sorrow," i.e. is always weeping - so much so that on occasions he will evaporate into a pool of his tears. I think it's identifying with melancholy, being isolated in one's own wilderness or labyrinth and wondering "what will I be appreciated for"? Just a pool of tears, it seems.
I think it's simply that the songwriter (or writers, in this case - being Mike Rutherford and Tony Banks) is/are in sympathy with this mythical being named Squonk in the book by William Cox. The squonk is a "creature of sorrow," i.e. is always weeping - so much so that on occasions he will evaporate into a pool of his tears. I think it's identifying with melancholy, being isolated in one's own wilderness or labyrinth and wondering "what will I be appreciated for"? Just a pool of tears, it seems.