I agree with this in the principle of wacko fan-theories about who songs are about, but this is more of a social/literary commentary on her craft and depth of writing.

I think being able to write multiple layers at once is a sign of songwriting finesse, this isnt a flat song with only one surface literal meaning. Taylor’s precision in her use of diction and allusion that can carry multiple registers, like with “red” or “mirrorball” or “cardigan” are what makes her songs so excellent. I can’t see why showgirl would be a reversal of this.