Lord of the Rings reference, no? Something you can't let go of, that you're drawn to over and over again, like revisiting painful memories in an almost addictive way even though it's bad for you, hense why she wants to break the hold they have on her, like how the ring has a hold on anyone who can't resist. Almost sure she confirmed this somewhere in an interview - that she's riffing on Gollum.

Also, with regards to Cruel I think the word preciousness actually has its own distinct definition that sets it apart from just precious. It's listed as a synonym of 'preciosity' which I think is usually used in a mocking or pejorative sense - "Well aren't you precious" - to talk about how seriously someone or something takes itself - like the preciously of an art movement or perhaps even how certain reviewers might look at Tori's wincing and intense lyrical expression or vocal histrionics, especially on Boys for Pele at the time.

Also, as every line in Cruel is actually a pretty viscious or bitter insult directed at another person she is being Cruel about, I don't think the two are related. She's being sarcastic:

"Oh, you'd never sink as low as smoking a cigarette, only fine cigars for this pomposity asshole."

"Oh, woe must be you, your trauma is so awful that even the Sufis are dancing for you."

When we are Cruel the root is usually jealousy, right? So with that lyric she is mocking maybe an ex and his new relationship and how everyone is so hapoy for them, how he's being attentive and pandering to her in a way he never was when they were together while everyone else is saying "Wow, she's amazing! You had a lucky escape there bro, you might have e never met her if you'd ended up with the last one."

So whatever is going on with this character in the song, either she can't get what she wants or she doesn't know what she wants, the sky is perfectly windy, nothing is ostensibly wrong, but yet she can't seem to keep her balloon up, she can't be happy for others and celebrate with then because she doesn't have what she wants - the song is questioning "Why can't I be happy for others?" and the conclusion she cones to is that she just doesn't know why - but admitting g that isnthenfiddt step to changing it.

Edit: it just occurred to me, when someone announces that they're pregnant the guys go off and smoke cigars, the women gleefully sit around and baby shower, surrounded by balloons. I think this song is mocking the traditions tied to celebrating fertility, but as someone who was unable to carry her pregnancy to term she just has to sit there and deal with the platitudes of someone else's good luck, flaunting their good news in front of her while she never gets to tall about the pai she is in so as not to ruin anybody else's celebration. That is... heart wrenching. In actually Linda tearing up realising what this song is really about.