How it [still] works: everything about the song is up for tens or chops; vocals, lyrics and whether or not the song is worth any of my time. ("It's Steve Grand, of course YOU'D love it." Oh how you forget the few times I've been critical of him.)
"Walking" is a more blatant in sound pop effort from Grand but nothing that sounds out of place compared to All American Boy. Vocally, he sounds fantastic. Studio projection I hadn't heard since the last time I listened to his debut. The chorus...OK maybe hook, is good and perhaps his most melodic single release [Oddly enough, his other really melodic chorus/hook effort was "Run" from All American Boy.]
However, I can't quite tell what inspired the instrumental. Is it his natural style mixed with Trop-Pop [please tell me this is a good version of such] or is it a natural style mixed with what he thinks are the good parts of 1980s pop? Whatever it is, it does work for him [even if the worst thing about the instrumental is it being anything Trop-Pop adjacent. Maybe xylophones or xylophone sounding beats are kind of ruined for me.]
Lyrically, [at least to me] the song can read as ["asking how a guy can love him even though he isn't worth anything...we know"; BESIDES THAT] him singing to his diehard fans asking why they've stuck with him despite times he's messed up with "how can you love me"/"how could you love me" sort of being his version of "Paparazzi" [because it's his version of dealing with fame and such. "WOW, kind of reaching but do you." Whatever.]
However, I must clock him for "my youth is yours" in the background towards the beginning of the second verse. Maybe it's because I'd rather hear "gave to you my youth" in the background but referencing Troye Sivan's chorus? You're a good lyricist, Steve; especially for a new act. Don't slack off here by being "cutesy" in the delivery of/referencing of "Youth".
In terms of what this single release offers, it shows Grand is consistent with how he's presented himself as a singer/songwriter. Despite the "my youth is yours" line & not really Trop-Pop/maybe 80s sound, there's way more good than bad on this.
Another version of "Run" it might be, but his vocals are rather fantastic when given room to be melodic.