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Yes I do believe that the song can be seen as a soliloqoui about the band itself, however, I believe that when you look deeper into the lyrics itself it serves 2 meanings:
(1) an appelation and motivational song for everyone who wants to change something about them selves, as well as a reminder that working hard is the only way to get where you want.
(2) an example given and appreciation towards EMINEM, who has worked very hard to get to where he wants, dislikes fame, never shares much about his personal life, works so hard that he gets high of rapping and legit hypnotized by his skills / ability (thus the addiction problems). He has also been able to overcome his addiction problems, won every rap battle to date, come back stronger and better after each album, topped all of his names (which he signed himself in his lable "Shady Records"), and is basically the most beast and successful rapper to date.
Thus, whilst the song can be interpreted to be about the artists themselves, I believe it is about (1) motivating people to be better, and (2) providing and example of such a better person!
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