And I guess songs are a lot like any verbal communication.
There are factors besides words that convey the message. Here, we lack tone of voice, body language, facial expressions, and knowing much about the person doing the communicating. With a song, also add in not hearing the tune.

It makes all the difference whether you "hear" the words in serious, angry tones, or a self-mocking "I'm-gonna-go-out-in-the-garden-and-eat-worms" one.

This song is about when other people verbally beat you up, and you decide to join in and help them instead of making peace or fighting back. I find it difficult to imagine this song with irony or any humor, and I personally would like to. (Of course I never understood or enjoyed the "humor" of that guy who played Latka on Taxi whose name I can't remember right now.)