Never mind what it's supposed to be about. These days, sign is privileged over referent. In other words, the swoosh is the thing, not the shoe. Or in this case, the song's the thing, not the transvestite transgendered object of Mr. Tyler's lust or disgust, depending on how you construct it.
And you could construct it either way. That's the point of what is loosely called "popular culture" these days. People who spend too much time in college describe such cultural productions as "polysemous," which is to say "many-meaninged." Have a look at those lyrics. They won't tell you what some "author" thinks about this gender-bender. They leave room for you to decide.
The Kinks were masters at this.
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What others say about boorite!