I think this song is talking about Fall Out Boy in the music business. They do not want to be a legend that will turn into dust, instead, they want to be turned into gold. And they want their fans to remember them for centuries. As for ' and just one mistake is all it will take, we'll go down in history' they are telling the story of their not-so-sucessful album, Folie a Deux, that they made a mistake about it and they went down in history and disbanded. The rest of the lyrics are either how their hearts got shattered or what some people thought about them when they started to change their image.
I think this song is talking about Fall Out Boy in the music business. They do not want to be a legend that will turn into dust, instead, they want to be turned into gold. And they want their fans to remember them for centuries. As for ' and just one mistake is all it will take, we'll go down in history' they are telling the story of their not-so-sucessful album, Folie a Deux, that they made a mistake about it and they went down in history and disbanded. The rest of the lyrics are either how their hearts got shattered or what some people thought about them when they started to change their image.