Well, I must jump back on this:

THINK OF WHAT YOU'RE SAYING,
YOU CAN GET IT WRONG AND STILL YOU THINK THAT IT'S ALL RIGHT.


I'd say that the speaker is simply trying to beseech the person addressed to consider a different point of view--a viewpoint, a realization that they are about to destroy their relationship. The person addressed is apparently entrenched in a point of view and won't acknowledge that there is another side. The speaker obviously doesn't know whether he/she (gender doesn't matter)is right or wrong, but is saying here in the lyric you quote that 'you can get it wrong'--not 'you are wrong.'

What I think you're missing in the lyrics, modestgoddess, is the point that these two have two different viewpoints, and one of them (the person to whom the song is addressed) believes he/she is right to the point that the relationship has been threatened because it is now a fully developed fight. It is the person addressed who apparently won't acknowledge that there is another viewpoint because she/he is entirely sure that her/his viewpoint is right, right, right. And because she/he is so entrenched in the viewpoint, the relationship is threatened.

The person making the plea recognizes that the person addressed has a different viewpoint, but that viewpoint may be incorrect. Again 'only time will tell' which viewpoint may turn out to be correct, but in the meantime the relationship is disintegrating--and the person addressed is so entrenched in being right and winning the fight that the relationship could end. I think the speaker is saying the fight itself is destructive--that they will lose their relationship if they don't try to 'work out' the problem--focus on the relationship itself--find a point of peace and forget the fight, which is in itself a losing battle because their viewpoints are so different.

Can't you remember all those times we all go through in which you've strongly disagreed with someone in the real world--thought the person was entirely wrong--and the other person continued to argue with you--and great pain began to develop in the course of arguing--and at some point you realized, "This fight isn't worth it. My point of view is not worth developing any further because I can see that winning this argument is not more important than the friendship I have with this person. And you cause yourself to back out of your argument--it is no longer important winning it, but preserving the friendship is by far more important.

I think the song is about that kind of situation. In the course of a heated argument between lovers, the speaker sees that they have entered dangerous waters. He sees that they are divided. Or, if seen from a female perspective, she sees that they are divided. And there is a recognition that the fight has become so bad that they may no longer be together if they continue. So the song is a plea to stop fighting. No one will be the winner because their viewpoints are so different--only 'time will tell' who is right or wrong--but that rightness or wrongness isn't important at this heated moment. What is more important is that the fight stop and that they refocus on their love.

They have two viewpoints; both have their heels dug in; neither gives in; one of them realizes, "This fight ain't worth destroying our relationship"; forget the fight; focus again on less controversial, dividing aspects of their relationship.

Question is: Can two people who love each other have diametrically opposed viewpoints? Viewpoints that could be fiercely argued even? Of course they can. Should they argue these viewpoints to the point that they begin to "fight" or "fuss"? Well, why not--sure they can. But suppose their arguments develop to the point that it starts to feel as though they don't love each other anymore? Well, then one of them needs to back down and say, "Let's not fight about this anymore. It's starting to feel destructive."

And that's what I think this song is about.