The song is most likely being told by a competitor on the show. The competitor is probably writing a letter to his parental unit, and is taking about a previous conversation he had with his parents, about when they asked him what he wanted to be. I take it that he answered back, saying that he wants to be famous. He then talks about how he will be a great star, as bright as the sun, and how all and any competitors he has should give up, because he has this in the bag. He will show his parents that one day, he'll be famous. The letter ends with one quote that will either motivate or haunt his parents, depending how supportive they, which I guess not much. "I want to be famous..."