"Are there many schools of thought when it comes to what morris is all about?"
In a word, yes!

My personal opinion is that confusion arises because the practice of morris dancing goes back a long way and may be associated with pagan ritual or certainly with pagan seasonal celebrations, but the content of the dances as done today comes from more recent sources, being apparently a parody of social dancing.

I'm not even sure about the seasonal celebrations now, come to think of it. Morris men would have come out to dance on May day because it was a public holiday: they couldn't do it any other time because they'd be working! And May day as a holiday has plenty of pagan connections which are obvious from all the songs about winter going away, welcoming the Summer and and the "fertility" shenanigans that are supposed to have happened out in the woods the night before - so Morris Dancing could have become associated with paganism by coincidence.

I'm told Devil's Dyke Morris will be up and dancing early in the morning here in Cambridgeshire, but I doubt I'll be joining them until their musicians meet for a session in the evening!

Anahata