I am going to take issue with that statement.
If you take the words in the context of when they were written they are actually very clever. They are purposed to tie the Hanoverian Regime into the then popular legends of Britain's founding and it is worth noting these legends pre-date the founding of England let alone the United Kingdom. The repeated reference to Britannia ruling the waves is an allusion to the Sovereignty of the Seas claim that had been made at various times by British monarchs and unsuccessfully enforced by the Stuarts, the new lot wanted to make it clear that this time the job would be done right. The tyrants reference is in fact a neat and politic capitulation to the Sovereignty of Parliament a key constitutional idea that the Stuarts had struggled with. The last verses simply reflect the spirit of the age and remind people that under the current order the economy is expanding by leaps and bounds, free thought and fresh ideas are tolerated and isn't life good (Oh and loads better than under those papist Stuarts)?
So the words are far from nonsense, propaganda yes but sensible if you understand the original context.
Again I think I need to find some shady branches
definitely overheating there RR....but I read this with great interest all the same.....thank you!