While I do hear a certain unique sound in this tune, I also think it carries a bit of a Dylanesque quality. I don't think Ed Vedder sounds much like Mr. Zimmerman when he sings, but the structural components of this music/melody portrays the imagery that someone of his magnitude could capture.
Let me say that I am not necessarily a Pearl Jam aficionado but I think this is very good song, one that helped define an era of rock music.
As pensive and confusing the first piece may sound, this one is a little lighter. It's only lighter because the message supersedes the form. But even at that, I still think the form was pretty good. It's really hard to know why this guy didn't make it bigger than he did.