In my eyes that's one of the greatest songs about post-spiritual depression.
When one looks at what went on in the music scene of GB in the 60s and 70s it really looks like a high peak, and I wonder why Germany at the same time was so dull and underdeveloped (of course we have some interesting Krautrock, but that looks like a later stage to me and is not much comparable anyway). Does it have something to do with us loosing the war and a society that has to deal with the holocaust and everything first?