It's about misuse of power, and most of the verse lyrics are lifted wholesale from Ovid's Metamorphoses.
The mix sounds a bit brutal but it's late so there you go.
And so, they all joined her down there
Finding respite on those waves
Wings that skim off the waters of the bay
Who d’you think you are?
Never shoulda come here
A different form of narrative
Oh so sensitive to mythomania
Well soon enough, the city-tomb
Leans into the doom
Its bony body
Arches back and paws out at the air
A rusting street sign
Ladder to itself
You had the nerve to try your luck
That was all it took