That’s more or less it. It’s about having a secret crush on someone and being afraid to reveal it (and thereby risk losing that object of worship). Stipe confirmed it a while back in an interview.
The video? Silly as all get out. But R.E.M. had a lot of good videos, too, so they’re allowed one over-the-top pretentious one.
Gosh, I’d never seen the Everybody Hurts video before. I love it.
I’m sort of charmed by the earnestness of the Losing My Religion one. There’s a lot of references to paintings in that – the guy flung against the tree with arrows is St. Sebastian, of course, and in the scene with doubting Thomas I think the girl to the left of the action is from some Vermeer?