I think it captures the fact that Christmas is actually a time when (sometimes due to alcohol) emotions are heightened, losses, regrets and tensions in relationships come to the surface, so the romance and beauty of Christmas are entwined with all sorts of raw and less positive feelings. That’s why it’s become a popular Christmas song, because it speaks to how people actually experience Christmas and how those feelings are all jumbled up, not because everyone is too stupid to notice what the words are saying.