Mickey, from my memory of it there is no blasphemy in the song at all, unless asking people to think is a crime againt anyone's God.
Songs like this, and Cry, Cry, Cry's "Mary Magdaline", examine his effect on others, as seen through their eyes.
Hold your head up, you are worth more to this world than the sum of all who decry you.
Remember, "they say that kissings a sin" too.
love, john.