Lyric discussion by deadchester 

Cover art for Golden Days lyrics by Panic! at the Disco

Given that the song was published in the wake of such passings in the music world as David Bowie and Whitney Houston, we can assume that the song is merely Brendon Urie reflecting on the artist's impact. He compared the golden days of the height of an artist or group's popularity to what happens as they get older, either falling from favor or rocketing to legendary status, in the form of a narrative about finding pictures of older stars from their glory days that reminds him of how it felt for Panic at the beginning versus what it feels like now, as what is effectively a solo artist. It makes him think about the promises you make when you're young and dumb, that you everyday break because those things can't be maintained as you age.