I (still -- this has been a long going discussion) don't understand why every song needs a lyric video -- especially songs with lyrics that reallllllly should not have the focus put upon them.
My thought is that Youtube is still one of the most convenient and widely used forms of music streaming, and lyric videos are generally more engaging than stationary album art or a band promo pic (some are almost music videos on their own). Plus some labels have been able to monetize their lyric video streams, so I'm sure that's an incentive.
As for the song, I'm looking forward to checking it out when I get home. These guys have never quite hooked me, but I think they have the potential to - and I really hope they can.