Probably. I heard that lyric for the first time the summer after my first year at a "private school" where the people were supposed to be a better class of people. Instead, I was mercilessly bullied, even by some of the teachers, so the fist time I heard this, after my first year there, and getting ready to go back, that lyric really stuck in my head. I was only in 7th grade.
I think that lyric means more today in 2021 than it did in the 70's when they wrote it.