It's about whatever you choose to see it as being about . . why seek to tie it down??
And as for where it ends up; I particularly relish the version:
"The drunkard served him worst of all
and pissed him against the wall"
If anyone wants to investigate this further, there was a thread about this recently on uk.music.folk which I'm sure folks could find on DejaNews . . That also pointed at the wide variety of versions of the song.