Imagine if this song was after My Little Pony: Friendship ended with S9E26 The Last Problem, where Blueblood returns after a failed coup against the Mane Six 19 years ago and rallies every other surviving unredeemed antagonist (considered minor by Equestria's standards) in finally ending them. How would you picture the lyrics going? Personally, I'd see the lyrics going like this:
[intro]
Now he's finally back, performing for you.
If you know your place, you can join him too.
Put your hooves together for a character most cruel.
Because this time... He's here to rule.

[verse 1]
If absence sows the hungry hearts, are you famished without a king?
It seems you all forgot the brand of cruelty that I bring
I remind you fellow bad guys, if you’ve just been born
Lest you fancy a death by my hooves or my breath, don't pester this unicorn.

[spoken]
Any supporting antagonist’s darker side is rare
But in a crew of cutthroats in this country’s hemispheres, that is the status quo!

[verse 2]
There once was a perfect society, everypony was selfish and filled with greed
We lived our lives so peacefully as a disharmonious crew

A quiet place
No snooping on our business
Every past villain’s ambitions caused this
Our backup plans were better too
Now I can barely chew

Sadly, our way of life didn't last that long, for six impudent mares had come along
With their delirious quest to right the wrongs, and thus sealed our current feud
From this loss and devastation, I will bring back our salvation
Worship me like once before and order will be restored.

[chorus]
If we tip the scale
We’ll send them all to a perfect jail
Must tip the scale
It’s time we made them writhe and fail
We'll tip the scale
Reclaim our time, our holy grail.
We shall not fail
We'll end those six mares’ tales
We'll tip the scale
Let's tip the scale!

[spoken]
“Seriously? That spoiled royal’s been in hiding in the dungeons for NINETEEN BUCKING YEARS!?”
"Well, it does explain all the supplies that inexplicably go missing.”

[verse 3]
It is true, I don’t deny it
That Celestia hit and run my bell
A commoner by the name of Twilight
Has made my royal life a total hell
This failure running through my mind
Like bunnies hopping in my head
What was to be my triumph cast to the side
And rendered absolutely dead.
Still, I fought like a noble hero through the tragedy and travesty
Now, I have returned with might and glory as your rightful majesty
And all this little prattle while my mojo was depleted
Words of mutiny, BAH, I will have you deleted.
Now I know what you're all thinking and I know your spirits must be down
But I'm here to save the day and to turn our luck around
We're going to pick up all the slack
We're going to make a clickety-clack
And then, we’re going to literally stab those six mares right into the back!

Don't beg, just kneel
And your loyalty shall be sealed
Pledge for the battle
We'll show our hidden mettle
With me, you'll sail and keel.

[chorus]
Now, tip the scale (now, tip the scale)
We'll fly, the wind is in our sails
Fight tooth and nail (fight tooth and nail)
Invoke the strife that it entails
They’ll try and fail (they’ll try and fail)
Those mares have run their final tales
We shall not fail (we shall not fail)
With me, we shall prevail (we shall prevail)
We'll tip the scale (we'll tip the scale)
Let's tip the scale (let's tip the scale)

[spoken]
“So it’s come to this! Since your first Grand Galloping Gala, our fates have been entangled, our destinies intertwined, the grand finale of good vs. evil! All of this is for the six of you. Funny thing is, I don’t particularly care much for apples! How do all of you like me, now? HOW DO ALL OF YOU LIKE ME, NOW!?!”

[outro]
We are villains, hear our cry
The flag of victory in the sky
We are villains, proudly we stand
On the hills of our beloved land

I am villain, I am king
And I’ll reclaim what's to be had
Take on asunder as we cry love, blood and thunder
My rule will be iron-clad

Now bear witness to our redemption
And the fall of those foolish mares
We shall take back what is rightfully ours
A world meant for Vladimir!