That would make sense if it's someone who has died.
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Originally Posted by symbeline
I like your interpretation about Prince. "All Hail The King whose castle is falling down, indeed" 
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My friend Kelly is a MASSIVE Prince fan and I threw my Prince theory at her with the lyrics and she was like, "Ooo.. this could refer to this and this could refer to this" so we really went with it.
I also like your theory of it being about the band as a whole. It sort of goes along with the "rebirth" theme.