The song has received positive reviews from critics due to its cheerful tone and uptempo beat that directly contrast its dark lyrics about suicide and self-harm.
The chorus, which the song opens with, implies past attempts at suicide for the protagonist: "My legs are dangling off the edge, the bottom of the bottle is my only friend.
We then learn he is at the top of a twenty story building, and that the polishing of a bottle is "pushing [me]" off and he describes how asphalt has never "looked so soft".
Johnny 3 Tears takes the second verse from a third-person point of view of another young man who had an abusive family life.
After the chorus, Petra Christensen sings the outro stated by J-Dog in a Hollywood Undead live cast in January promoting the release for the band's latest album.
Rick Florino of Artist Direct had a list of ten reasons readers needed American Tragedy, with number three being the track "Bullet".
Florino explains that "Hollywood Undead snap from faint acoustic guitar into cinematic rhyming about suicide.
However, it's the sunniest and catchiest tune on American Tragedy" and that the band's genius lies "in that dangerous space between unforgettable and unsettling."
It has a melody happier than many songs, an upbeat and almost peppy tempo that's completely at odds with lyrics like, 'I never bought a suit before in my life, but when you go to meet God you know you wanna look nice!'
He later analyzed that "[t]he final verse is different and is sung by what sounds like a little girl and adds to the 'happy' melody, but with the previous lyrics it just makes it even sadder," and stated that "if 'Comin' in Hot' is a successor to 'No.