The drapery falls (paraphrasing: the fall of the curtain, or big piece of cloth, like in theatres) is a kind of metaphor for the clearing of a confusion, an enigma, or something that makes the first-person character in the song unable to sleep comfortably (counting nocturnal hours): the nightmare of the miseries of life.
There are two voices, or two characters in this song: first the man trying to sleep and to understand everything that appears so obscure to him (remedy my confusion). This something is causing him pain, every night (pull me down again and guide me into pain). This first person is represented by Mikaels clean voice. The music is filled here with acoustic guitars and atmosphere sounds.
And guide me into
(implied: PAIN) Here we fall into the characters sleep, represented as night in the shape of a nightmare or a group of nightmares full of strange visions (drowned visions), and in Mikaels guttural voice. As were sleeping, the images are shown in a disordered way and so is the incomplete language. This makes the song very difficult to understand. Nevertheless, we can gather some dark visions (failure, death, pale ghost, graves, violence
). These can be representative for the whole of human nature, which is so tainted and evil, if you want to find the parallel. The music, consequently, is also evil, with very aggressive riffs, and strong voice.
Spiralling to the ground below
The curtain, the drapery, falls down like autumn leaves, and the confusion is cleared now as we wake up to another day, which is filled with misery, the miseries of everyday life and everything that torments the character in his sleep is something that appears now as normal. In the music, we go back to the first riffs, the ones in which confusion was present, and the clean voice of the first character. This provides a cyclical movement for the song, and life itself, which happens to be always the same.
I wait for some other interpretations.