If you want to start getting technical with regard to the meaning of the song Emily, I would have to say that I disagree with you there. If anything referring to all of those sexual things gives the song more meaning because Tim Minchin is creating a contrast between all of the pain and suffering in the world and basic selfish desire. By saying "**** I love boobs though", Tim is showing typical human nature and why the human race is so flawed in the first place. A lot of people act like they care about all of these things - sexism, poverty and the environment, but nobody really does much about it. People say they care, but fail to act and basically only care about their own desires. Its easy to talk about how sad it is that women don't have equal rights and people are dying in Africa and how we are destroying the environment, but that's as far as it will go for most of us, we all just love to have sex instead as Tim Minchin infers. If anything Tim Minchin is creating pararels in the two extremes of human nature - selfishness and selflessness. Tim Minchin is showing how a lot of us care about all of these issues, but then just do nothing about it and worry about our own desires, going on with our lives like normal, because it is easier. Just like it is easy to say that you love boobs though instead of trying to do something about these problems in the world. We all laugh at this song because we know how true it is, its easy to laugh something off then to give a damn about it.
Hopefully my ramblings here make some form of coherent sense
****, I love boobs though