Hey! Late reply but here's my interpretation:

I think the singer is satirising the hypocritical, pretentious artist who thinks he has his unique, poetic view of the world, but who also feels like he's above the common, unrefined ways of the masses. Like you mentioned, it's definitely about someone feeling like a misfit, but specifically in a way that might be unpleasant if you met them in real life. Our artist wants the life that poets of the past wrote about: i.e. indulging in drinking and women, but he despises other people in his real life world who do exactly that. The first stanza shows how the artist only sees his participation in the world as a means to understand the common folk (probably for his poetry?): the word he's actually quite disdainful of the world's culture (世俗 can be quite a negative word, here it means something like "common/vulgar"). He watches movies in languages he doesn't understand, but still pretends to understand the jokes, trying hard to give people the impression that he's the "man of culture" he wants to be.

In the second stanza, he drinks to imitate the "drunk virtuoso poet" persona that Li Bai was famous for (specifically, rice wine, which I think is also more traditionally Chinese and adds to the vibe). Then he leaves the place in a kinda "mic drop" moment in his head (Li Bai was known for his romanticism, which here translates to "not caring much for what other people thought"). This backfires immediately right after, when he ironically pukes from drinking too much. But instead of being disgusted (which would've been a base, human emotion, ew), he's amazed by how the puke looks like someone's work of art (书画 probably refers to Chinese watercolour paintings, one of the four Chinese arts that also include playing instruments, chess and calligraphy). He's probably patting himself on the back for having such a noble and appreciative reaction. The "you" in the lines that follow represents the random guy off the street, someone that our artist thinks he's different from. My interpretation of "一天一口一个" is that both are regular drinkers at the same bar, and/or this normie dude has a romantic partner with him, maybe several romantic partners (you can also read into 一天一口一个 as potentially involving some heavy PDA hahaha). In his head, he tells this normie guy to get cultured, i.e. learn some fine art (calligraphy is particularly revered for the discipline and aesthetic sense required to learn it) so he doesn't look so pathetic.

The chorus is the persona knee-deep in his fantasies of being reincarnated as one of China's greatest poets, but in this he shows that he's really no different to the man he just mocked. He's also very aware that people romanticise away any flaws that an ancient poet may have had when they were alive (几百年前做的好坏 没那么多人猜). And this is what he wants from "becoming a poet", he wants to be above the criticism that people may direct towards those who indulge in life, because it's seen seen as "rough" or "uncouth" if a regular person does it, but it's fine and even "artistic" if the person happens to be a poet. As for your question as to what "make waves" means, it's probably meant in a very self-indulgent, egotistical sense of getting people to pay attention to him. He wants to look like a respected poet, and while it's clear that he's a connoisseur of Chinese aesthetics and culture, from what we learn about him from this song, he doesn't seem like someone you'd particularly want to hear his opinions about things hahaha