What do the following sentences from "Paradise Lost" mean?

"Wherefore do I assume these royalties, and not refuse to reign, refusing to accept as great a share of hazard, as of honor due alike to him who reigns, and so much to him due of hazard more, as he above the rest high honored sits?"
-Lucifer

My take on it is that Lucifer is saying something along the lines of: Why would I accept the honor of leading you if I were not also willing to accept such danger as accompanies such a role?

However, on the explanation section it says that he is trying to justify taking hell's throne ex post facto.
I don't see how he is doing that considering how I interpret his words.

So, two questions.

1.Is my interpretation correct?
1a.If not what is the correct one and why?
2.If my interpretation is correct, how is Lucifer trying to justify his assuming of hell's throne after the fact if he is just saying that he will accept the burden that comes with it?