There's always some spoilsport out to ruin the fun!

Yes, of course it is a work of art etc. That doesn't mean that it was a total invention. The song may have had some historic grounding, and some people find it interesting to try to tease out any such factual basis from thin textual references and any other research. Whether it did or it didn't, often we can learn something from the gleanings they find or the path they take. (Or even, it must be admitted, sometimes gain a mild amusement from errors.)

Good for the diggers. Full speed ahead and damn the philistines.