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The speaker imagines singing to the addressee changing both singer and listener, repeating the belief that this is true.

The conditional language claims an anticipated shared effect, not a completed performance. The short I too connects the two transformations.

A small mirroring lyric: 'If I sang a song / to you / I would be different', then 'If I sang a song to you / you would be different / I too', with 'I think that's true' closing each half.

The conditional never becomes a performance; the change is imagined on both sides, and the short 'I too' makes the listener's change the singer's as well.