Here's my take on it
Backstory:
A kingdom has just been ravaged by a terrible rebellion. The Rebels fought on to and destroyed the capital, but the king's forces defeat them.
He is having a celebratory ball, but it does not feel right. The great hall hall, formorly greatly lavished, is now destroyed and crumbling, and the party seems to have a mournful air to it, as though the people are trying to celebrate a death. Everything feels wrong. The old ways are dead, and yet here they are: a mockery of what they once were. It starts raining, but nobody notices, for in truth, the king did not truly win. He merely thought he had, and the rebellion destroyed his castle. But the ghosts do not know that. They just keep dancing, oblivious, in celebration, until the kingsom is forgotten, the hall crumbled away, and the very land changed greatly. Add still, they dance,. Forever.
I know, not the most origional, nut it's the story the songs seems to tell when i listen to it.