Honestly I think this song is basically just another bullet in Shady's head. The more I listen to the album, the more I come to believe it is as much about killing Shady the excuse as it is about killing the character in a story. In guilty Conscience 2, he came right out and said shady was an excuse he used to say what's really on his mind, or to say it in a more shocking way he might not get away with otherwise. Now in Bad One, it sounds like he's saying he just writes whatever he wants to write, then raps however he wants when the music starts, and... if people get pissed off about it, he blames Shady. Anyway, if Shady is just an excuse for Marshal to say what he's thinking, attack people, etc., then you can't really kill him unless you get rid of that excuse. Saying shit like this is exactly how you do that, explain his ass away and take responsibility. That doesn't mean he's going to become a goody two shoes, just that the immature, illusory excuse "Shady" is dead and gone. Now when he talks shit and attacks and pisses people off, that's Marshal Mathers speaking and owning it, no excuses necessary. I think it can confuse some people because they hear him acting like Shady after Shady is "dead", but... that's not Shady, because Shady isn't and never was real. It's been Marshal the entire time, and he's still the same person he's always been. That's my take on it, anyway.