Philips, Craig and Dean have been controversial over their background in Oneness Pentecosatlism, a heretical movement that denies the Trinity for belief in "Jesus only." For a while, they have been ambiguous over their stance concerning the Trinity. But their latest song "Only Jesus" should prove beyond a doubt their adherence to Oneness Pentecostalism in its denial of the Trinity. I refuse to embed their heretical song, but here's the link if anyone is interested.
In terms of the lyrics, one might think the song is about the exclusivity of Jesus , as over against the syncretism of the age. And to the extent that the first and second stanzas focus on Jesus' work during His incarnation, that seems fine, but then we arrive at the chorus:
Holy, King Almighty, Lord
Saints and Angels all adore
We join with them and bow before
Jesus, Only Jesus
We see here that according to the chorus, it's not just that we are to worship Jesus because of His work, but that the person to worship is "only Jesus." Contrast what is stated here with Revelations 4, and the difference would be more obvious. We do not join saints and angels together to adore and bow before "Jesus, only Jesus" but before the Triune God - Father, Son and Holy Spirit, 3 persons 1 essence. God the Father is not named "Jesus," neither is God the Holy Spirit. The Father is not the Son and the Son is not the Father, which is why it's wrong to say that we worship "only Jesus."