Interesting that the ranks deplored in the familiar version of the song - sergeants, WO1s, and corporals - are all army ranks. Likewise the reference to "swaddies."

It's unlikely that Godfrey would have sung about army ranks in the RNAS in 1917.

RAF versions mention "airmen." I'm unaware of any version that mentions RNAS or RN ranks.

The point is that very little of Godfrey's original could have remained in the 1940 version - possibly no more than the tune and "[whatever] 'em all!"