These are lyrics about remaining determined, though it may seem futile. In the first verse, the narrative describes his life as a TV show (looking at himself through glass, watching a re-run multiple times), this describes a sense of detachment from reality. And the outcomes manage to stay the same regardless of his input, he is playing a game he cannot win. The first chorus is saying that there is truth in the lie; although he cannot win, it’s still worthwhile to try and although he stands accused, he is adamant that he’s been misunderstood. The second verse refers to Nick Drake’s ‘River Man’ to describe a character in a story he’s writing about an “idiot genius”, ie. somebody who is generally regarded as stupid but is actually very intelligent (or perhaps vice versa). He has seen the world as it is - without illusion - and has decided it is all trivial and you might as well do as you please. The second chorus is the narrator admitting none of it really makes any sense, he is just trying to make some sense out of life. It’s an existential song.
