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It's a dig at the newer artists who are dominating the charts. Some said a few examples could be Justin Bieber, One Direction, etc. But I think it teeters more-so on the newer "rock" bands like Pierce the Veil, Blood on the Dance Floor, y'know.
"You are a brick tied to me that's dragging me down
Strike a match and I'll burn you to the ground"
I believe this means that they're tired of new emo/scene bands giving pop-punk a bad name by association, so with their new album and sound, they're burning old bridges and "showing those bands how it's done."
"Hey young blood, doesn't it feel like our time is running out?"
This is a sarcastic, tongue-in-cheek lyric. Replace "Young Blood" with "Pierce the Veil" or "Blood on the Dance Floor" and it should make sense. Everyone thought FOB was in the past, so the newer bands could take their place, fan base, etc. but this is their way of saying "nope, back off; we're just getting started."
"I'm gonna change you like a remix
Then I'll raise you like a phoenix"
This is their way of saying "let's show you how to make songs with real meaning and be a REAL rock musician, then you can have your glory."
"Wearing our vintage misery, no, I think it looked a little better on me"
I've interpreted that as their way of saying "no one can do 'emo' better than us". It's kind of obvious that bands like FOB, Blink and MCR kind of paved the way for bands like PTV and BOTDF so I think FOB is saying throughout the song that they're not ready to give up their reign yet, so the newer "rock" bands might as well step down.
Looking at the rest of the song in that context, it should make even more sense. I'm pretty familiar with FOB's music and lyric meanings, so I pretty much had this song pegged down right away - It's a pretty reoccurring theme in their later albums. The album name "Save Rock and Roll" even ties into it.
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