Im going to disagree with the baby references...The baby ideas didnt start showing really until in utero. I believe this ties in with the songs he wrote about school. First verse: He was open about disliking jocks. This is probally a recess, or physical education class reference when everyone is lined on the wall to pick teams, and shouting "pick me" because you just hate to be the last pick. He saw this is a shallow and hollow way to be....So as he says, Everyones hollow. Then its down to the last two, him and the fat kid...."im last, your last", here we are alone on the wall while everyone is playing, we will just be on the field.
Chorus: Dive in me, in you nothing new. A verbal expression of inner thoughts perhaps? Maybe the fact that he was evolving, while others had the same hollow sense at the age.

2nd Verse: I will say, kiss this kiss that, I will even swallow....has to be about a girl. "Be at ease at least"...Saying, it was fearfull, for him or her, I dont know.

I think this song falls into his highschool context of lyrics. When he felt everyone was so out of touch from where he was mentally.