I agreed with everything you wrote except for "always".
I think it's not possible in principle for a machine to do better than humans at recognising human emotions, because a human can't exactly be wrong at this. (Other than edge cases such as not knowing the right name for an emotion, perhaps.)
But suppose a sample of 1000 humans answered a survey on emotional content of a song and a machine was able to predict the distribution within some tolerance. In a sense, this would be superhuman performance, but even if we don't like that interpretation, it would still be very good performance. And it is possible in principle. So the argument that humans sometimes disagree doesn't prevent a machine doing well on the task.
EDIT: "The ultimate vindication of AI-creativity would be a program that generated novel ideas which initially perplexed or even repelled us, but which was able to persuade us that they were indeed valuable.", from Boden, Creativity and Artificial Intelligence, 1998. I believe, based on her other writings, that she thinks of it as a sufficient, but not a necessary condition, for AI creativity.
The central problem of getting a machine to understand metaphor, irony and the like is going to be Hard by any definition.
Having said that, I agree that it seems a hard problem for the foreseeable future.
That's a bit harsh, but I agree.
Words & music are both key to understanding a song's "mood". Only looking at words can completely strip the irony/sarcasm off a song (as can only paying attention to the arrangements and melody/harmony.)
How would such analysis even work on artists like Dylan?
Trying to measure the sadness of lyrics with an algo is tantamount to the early scene in "Dead Poets' Society" where the students are supposed to measure the greatness of poetry by plotting it on a chart.
It's demonstrated in the data: one of the most depressing songs of their entire oeuvre is "Fitter, Happier" but because it's completely metaphorical (or sarcastic), the algo rates it as one of the happiest.
This will always be a big problem in AI. Measuring the literal meaning of words is easy. Measuring the semantics and context of words is a completely different matter.