I first saw the video fresh, then I saw the video with the lyrics. Then I saw the video again, and then read up wiki to get an insight on the vocalists (and saw the video again). So total of 4 views.
First I thought the video could have been something about a bisexual person coming to terms with his really emotionally clingy guy friend. When I mean coming to terms, that he's more scared the crap out of himself because.. well you don't except that to happen.
Second, after reading the lyrics, I think the video is maybe an after-shot of the events that happened in the lyrics. He was with a girl but things ended up bad, and now he's trying to fend off this guy who's, I dunno, maybe trying to get his ex? So the video is more representational of his psyche. Now the hunted is trying to fend off his own mentality (sub-conscious jealously perhaps).
Now as for the third time, I'm thinking there's three parts to the video. The first is segment is from the perspective of the hunter, from 0:00 to 1:10. From 1:10 1:35 it's transitioning from the narrative of the hunter to the narrative of the hunted. From 1:35 to 1:50 it's from the perspective of the hunted. He goes, "Sisters of Mercy, take me please." because of the predicament he's in. He's trying to get the heck away from the man who's "been so lonely".
From 2:00 and to the end, the lyrics just becomes the combined chorus of the two. "I've never been so lonely, can't you see." It works from both perspectives. 'I've been lonely so that's why I acted the way I acted', and, 'I've been so lonely, so that's why I'm going after you, can't you see'. What they say are the same, but what they mean and what their intents are, are different. So the order is, the narrative of the hunter, the narrative of the hunted, and then the chorus (where the ending is up to the viewer).
And now I've seen the wiki and considering that the vocals are both females, I think the video is more representational of how a certain couple fell into an emotional bond. The males in the video aren't representational of a certain sex, they're more representative of two parts or elements that match/complement each other. They're representational of emotions rather than sexuality. "All of this tension waiting for release." Of whether they ended up well is up to the viewer.
The whole thing could just be a juxtaposition as well, which is somewhat similar with my 2nd conclusion but with a "juxta-twist".