I have always interpreted it a bit more generally, as a satire of how "leaders" were chosen based on social status rather than actual leadership ability. It's clear the Earl is a hopeless leader, but he's in charge because of his class.
Ironically, the song seems to imply that his hopelessness actually saves the lives of his men because he couldn't get them to the battlefront in time ("...couldn't get them down that far"), where everyone else is killed ("...and that will be their grave").
I have always interpreted it a bit more generally, as a satire of how "leaders" were chosen based on social status rather than actual leadership ability. It's clear the Earl is a hopeless leader, but he's in charge because of his class.
Ironically, the song seems to imply that his hopelessness actually saves the lives of his men because he couldn't get them to the battlefront in time ("...couldn't get them down that far"), where everyone else is killed ("...and that will be their grave").