The speaker describes a night that begins in a drunken haze and ends in a sexual encounter they did not fully want. Walking to the other person's place, everything blurs except that face. In bed, the speaker says "Stop, this isn't right" and explains that they wanted their first time to be special. The reply, "Baby you're mine for the night," ignores that protest, and the plans go ahead anyway.
The repeated line "This is wrong but feels so right" shows the speaker's confusion, as if they are trying to talk themselves into accepting what is happening. The next day brings fear, shame, and a wish to avoid the other person and their friends. The question "What the hell is wrong with me" repeats, suggesting self-blame. The ending is the bleakest part: when the speaker tries to confide in loved ones, they laugh it off, and the speaker feels that nobody cares because they're "just a man." The mood is hazy, anxious, and finally lonely and hurt.