It really makes sense. The full text, created by linguist Chao yuenren, was as going:
石室诗士施氏,嗜狮,誓食十狮。施氏时时适市视狮。十时,适十狮适市。是时,适施氏适市。氏视是十狮,恃矢势,使是十狮逝世。氏拾是十狮尸,适石室。石室湿,氏使侍拭石室。石室拭,氏始试食是十狮。食时,始识是十狮,实十石狮尸。试释是事。
Chao wrote this essay, in ancient Chinese, with which he was trying to manifest that Chinese has lots of homophone groups (he was giving one here), and most of Chinese characters, which are monosyllabic, can solely function as a word, therefore it is very difficult to tell them apart from each other only by the syllable, including tone.