>She's dressed up in diamond dust, A lover of decay, Coated lashes, soul of ashes, What more can I say?
Reference to Kiara and the way she dresses up in a fashionable way, how she plays up the yuribait, and has an alter ego as a Phoenix.
>Loving you, killing you, isn't it thrilling?, You've just said enough from those guts you've been spilling through, Crying and begging, a lovely sound, I'll tear out your soul, but you'll still stick around
Mori talking about Kiara opening up to her during their first meeting and wanting to become her friend. Kiara was in a very vulnerable and unstable state of mind and cried and made it very clear she needed her company to survive her stay in Japan, and that she didn't have any friends.
>What I found is a treasure indeed, A friend who can bend to my every need, I'll use and abuse you and never feel bad
Mori realizing she can do whatever she wants with Kiara because she's so dependant on her. It's a one-sided relationship.
>Tangle you, tighten the yarns that I've spun, And I'll do it again to get what I want
Mori describing a moment when she got something out of Kiara without her even realizing.
>The fact it can actually make death wanna die, and the one that you love, and then making you cry, and it's "just me", after all
Mori talking about the times she made Kiara sad and cry while playing the yuribait, and how this is her roommate's true personality.
>I'll give you fire, 心にかWho?
Mori boasting that she doesn't really care about Kiara.
>Hello, 餓狼 餓狼, 唸りかける, また意地悪な爪を立てて, 勝ってあげる, Haze you!
Mori describing herself as a wolf looking at her prey. Haze you can be about "hazing" AKA manipulating Kiara into degrading herself (crying in front of her like a child and talking about her past life), OR is an homonym to "Hate you", that she's tired of Kiara.
>When the curtains finally close, and the show's really over, If you glance into my past, it's just nothing new, Lying, conniving, thriving on hate!
She's just pretty much saying it out loud.

Mori knows Kiara will never believe anything bad about Mori, and the army of /u/ schizos will always push Kiara into engaging into Takamori, a toxic relationship even beyond hololive. There's no way for Mori to lose her prey.