So i guess they explained the song in an interview.
Well, ICP turned over the last Joker's Card ("The Wraith") in 2004. And it turned out that, uh, the Dark Carnival... is God:
It ain't about Violent J or Shaggy, the Butterfly or 17. When we speak of 'Shangri-La', what you think we mean? Truth is we follow GOD, and have always been behind him. The Carnival is GOD and may all Juggalos find him!"
So where do you go from there? Well, once you've revealed to your fans that the creepy gothic mythology you've spent 12 years developing is just, you know, Christianity with clown makeup and faygo, basically all you're left with is praise songs. Hence:
Water, fire, air and dirt
Fucking magnets, how do they work?
And I don't wanna talk to a scientist
Y'all motherfuckers lying, and getting me pissed.