Veda, I know why you posted this, in the Scientology-related videos. Just want to let you know that I see the corollaries, the irony within it, to what may have attracted him to Scientology a number of years later, after he wrote the book that contained the lines of this song.
https://en.wikipedia.org/wiki/Beautiful_Losers
The song, using the words as lyrics here in your video, remind me of the 'cognitions' and glee I felt at times in Scientology, which promised much but would then eventually be forgotten... slip away from my consciousness, from 'reality', only to be wished for to maintained.
And we thought we would become God.