I watched the MV on 0.5x and this is my analysis.
The Circular Piano in the beginning is probably a reference to the Tower of Babel
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They are climbing at the top of Tower of Babel then Taemin gets pulled inside the Piano. The Scenes with the Orange Background are inside the Piano/Tower of Babel. Inside the Piano there are men in White, with masks, chained down to chairs and all have shaved heads. Then K3y appears standing in center as if he is looking down on the men in chains. This is a clear representation of the kpop industry. The men in white are all idol trainees and other groups who have failed. They have shaved heads this is important because in militaries new recruits get their heads shaved to strip soldiers of their original identities. This is also what happens in kpop the industry much like military breaks them down and strips them of their own identities. They are nothing more than puppets who are dancing to the tune played by their masters.
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Then there is a scene where the screen becomes like a fisheye. This is a technique used to portray the "eye of the camera". This is us the audience and the fans looking at them through a camera screen as they are inviting us to sin.
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The lyrics are very suggestive with clear sexual undertones. In the chorus they are saying they come like a criminal to capture the hearts and minds of their fans. In the bridge they even say "There is no looking back" once you i.e the fan comes under their spell. The major theme of this song is them showing that they have received the blessings of the "elite" circle and they are looking down upon other groups that "failed".
Taemin mocking the failed groups who didn't make it either because they refused or they were 'silenced' as shown by them being caged inside a cell underground.
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Also, 0new's main outfit has a one eye symbol on it.