Lyric discussion by yewbarrow 

It's a plea from Ray Davies to his brother Dave not to leave the band.

Dave is apparently thinking that there's no point in carrying on, but Ray says "you might be through but I’ve just begun". He then goes on to tell him about Dan, a loyal fan, illustrating that their continuing to make music is not for nothing, that "it’s the only thing that gets him by".

Incidentally, the song came out on the Misfits album in 1978, just a year after Elvis Presley died - hence the relevance of "the king is dead".

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