Director Chris Richmond paints a visually heavy trip through the mind of a disenchanted youth, which could possibly be drug-induced. While many of the post effects on screen and the look on the main character's face (not to mention the inhaling sounds of the song) seem to suggest the use of narcotics, one could easily interpret the events as a transcendent experience sans illegal substance. In either case, things are starting to look increasingly weird for our hero.
As the man walks around a city he has clearly seen before, suddenly everything begins to turn dark and ugly. Richmond uses some very cool filters, editing tricks and cinematography (the eye hovering on screen is especially memorable) to create this sense of paranoia and doom (amplified by the creepy factor of the music). Whether the phenomenon is real or in his head, his mind is definitely opened to new sides of the world (perhaps even to the truth) - and the lyrics of the song suggest he probably should have seen it coming.