Catherine Wheels is not the usual tightly-structured song we're used to from Neil. It's more rhapsodic, 2 or 3 half-songs cooked into one. I think the atmosphere is amazing at times, but I do find the lyrics frustratingly (rather than intriguingly) vague. The climax section (with the big upward-sliding guitar) is really lovely and satisfying though.
A lot to like in that song but I can see why some wouldn't connect with it.