The speaker is an omniscient narrator reflecting on a culture of shapeshifting exploration, from ancient shamanic shapeshifters to contemporary cinema. They may be a werewolf themselves (perhaps the child mentioned in the final stanza), or someone with a werewolf as a close loved one (perhaps the parent who conceived their child under the new moon). Their exact relationship to the narrative is left to interpretation, but it’s clear they have a subtle emotional investment in what’s happening to these people.