Hey, I love songs with good lyrics as much as anyone, but you don't need to have good lyrics in order to have a good song. There's more to songcraft than lyrics, not the least of which is that intangible quality of performance. And I think "Rock and Roll Queen" is very well performed. Also, in principal, I do not believe lyrics should be judged outside of the context of the music.
I'm not saying the Subways are going to change the face or music or anything. They're just fun to listen to. You're welcome to your opinion.