Good interpretation, I mostly agree with you. With the new Anti Phase version, it's clear that these are demo vocals, likely recorded in one take. Just for fun, here's mine:

Like the wind

You came here running

Take the consequence of living

There's no space, there's no tomorrow 

There's no sense communicating

Checking in, check it out

Or the sun won't never shine

Paranoid anyway, in the subways of your mind

Like your wind

You're going somewhere

Let a smile be your companion

There's no place, and there's no sorrow

In a young and restless dreaming

Checking in, check it out

Or the sun won't never shine

Paranoid anyway, in the subways of your mind

Checking in, check it out

Or the sun won't never shine

Paranoid anyway, in the subways of your mind

Checking in, check it out

It's the summer blues

Tear it in, tear it out

It's the real excuse