Isn't it about when he dies and hes singing about watching his funeral.
Meaning "maybey 6feet aint so far down" because hes getting buried, I thought it was "sad eyed follow me. & theres hope for me yet"
every song can be interpereted in a million and one different ways. I just depends on whats happening in you life to how you interperet it,.
No matter how you look at the meaning, it an amazing song. You gotta love it.