Mind if I browse to different genere for this? 
I LOVE lyrics by this guy: https://www.youtube.com/watch?v=VLSFAjh0w74, https://www.youtube.com/watch?v=gFNsKNCf_H8
I love how he raps about stuff he really lives through. So open. I think music in general lacks this a lot.
Imho great lyris is relatable. When someone else can find themselfs in those lines. 
I agree that great lyrics are often relatable. ^.^ I also found the ones in that song to be quite pretty on paper.
"And the best fears of our lives
Can all come true if we let them
When all our heroes have died
And we all become legends
The best fears of our lives will disappear when it’s time
But I’ll still love you when your parents die
And when my parents die
Yeah ill still love you when our parents die"
One thing that I've been thinking about is the use of "themes" within lyrics. I've often noticed the theme of the song is found in the chorus which makes it easier I think to write for. Making the intros, verses, and bridges connect though to the chorus seem to be a bit more of a doozy for me.
Another think that I've noticed is that there are often different types of lyrics as far as what there goal is. Some lyrics focus on more of a story telling perspective like the Dylan Owen song while other seem to be based around a phrase like this one.
https://www.youtube.com/watch?v=VLSFAjh0w74It really shows that lyrics can be extremely diverse as far as how they're written. Sometimes lyrics don't even have necessarily make sense! Some of the old system of a down songs I used to listen literally sure seem that way like this one.
http://www.metrolyrics.com/i-e-a-i-a-i-o-lyrics-system-of-a-down.htmlI really like the lyrics in madeons nonsense. These ones a lot.
And don't you think that I'm a runner
I be coming with my guns up
Shooting at the moon to bring the sun up
0:45
https://www.youtube.com/watch?v=QTE_W5SMP0QI just think that these lyrics are so unique as in I've never really heard them in any other song. I think that's something that I like to look for in my own lyrics.