I know that the album is about how the current political status affects the band, and that Holly Wood from the title is a personification of Hollywood, and I also believe that the song shows this. They stick this extra bit in the chorus: "I love that sound so give me one more line" and I think this is a take on them acting like Hollywood, getting cocky and adding more in to please fans like an undeserved encore (personally I like that bit, so don't take this the wrong way). Also, in the video, we see several references to affairs, like the beginning for instance where Ryan is in bed with another guy's girl! Then later, we see a kiss being passed along a line by the band members, possibly signifying the great deal of affairs in Hollywood.