I think part of the beauty of it is that we, the fans, can sit here, 28 years later, and try to analyze and figure out the theme, what's the meaning of this part etc. I am pretty sure Steve and the band find that very rewarding, to have released something that fans still to this day try to "figure out". Are all the eight tracks really part of the concept etc etc. I have never been able to come up with a definite answer for that, but the band has been quoted in interviews stating that only about half the album is part of the concept, but that it "can mean whatever you want it to mean", hence, you can interpret it the way you want for yourself, and that's the beauty of it, I think.
I just know that I love this album so much, it is my favorite album of all time (although the rest of The Golden Era albums come very, very close).