no, it's may day by any other name- sex, drugs, dancing and flowers without hopefully sangria puking hippies and jam bands, man. the oldest know continuously celebrated ' folk' ( that is pre-christian) celebration in western europe, specifically among celts.
the morris peeps were on the charles at sun up may 1st and it's sort of the same thing, but not quite. they actually still had maypoles in america when i was young and that wasn't all that long ago fuck you very much. it's really nice to still see someone somewhere keeping these traditions alive whereas americans with their commercial new age crap have failed to keep it real
the song is traditional.