This song's pretty self-explanatory. He's with a person who doesn't want to accept him the way he is, and becomes smothering and controlling as a reaction to fear of losing him.
Anyone who's been with someone and that person tries to change you, but it simply pushes you away knows that in most situations like that, the person becomes very smothering and controlling.
This is also true of parents, so a lot of people could also relate to it from spawnfreak's perspective.
The line where he states that he knows the person was just like him, with someone disappointed in them, is basically trying to open that person's eyes and make them realize "Hey, look at your own life and look at how what you're trying to do to me now is something that someone might've already done to you when all you were trying to be was yourself"
This song has been my cellphone ringtone for when my (now ex) calls me... And she wasn't too happy about it while we were together. I guess I was trying to tell her something all along. ::