Well it talks about lovers, I'm assuming it's talking about Shiva and the dragons being together at one point, that there was some kind of harmony. It then talks about that fire dying, then it talks about a fallout. Then it talks about someone sacrificing themselves for peace, then it talks about people betraying that then it and causing strife, lamenting that people would choose war for petty or stupid reasons over happiness, and that people would rather throw their lives away then try to understand. Which creates a cycle of violence. IMO nothing in this is about Hydaelyn. It sounds like it's talking about the true history of Ishgard and Dravania.