I started listening to the podcast and then got impatient. I went back just now and skipped ahead.
Given all the other cloaked American culture references in the song, it seems quite plausible that Chevy to the levy is a reference to that old commercial. I saw somewhere else on the inter-webs where someone said there was a bar named the levee near his house. IDK that sounds spurious to me.
He was asked if the jester was Bob Dylan, and if the king was Elvis. He flat out said “No… no…there’s only one king that wears a thorny crown, and I’m not interested in making this into a board game. It’s an impressionistic work.”
So it’s a song about how he FELT about all the changes that for him started with that plane crash. And most of us who love music and especially who lived through those same changes could to some extent or another share those feelings. That’s why the song was a big hit. Like any good art it makes the person experiencing it feel something. The combination of those lyrics and that melody got inside a lot of heads and rolled around there. And because it’s impressionistic, it’s not coded history. It’s the directed subliminal spewing, coupled with conscious word choices.
For you, or anyone, its about what ever you want it to be.
And lastly, talking about music is like dancing about architecture.