My 3.1 cents

This movie is about the occult or Satanic influence in the entertainment industry. Its a chronicle through the interdenominational journey of opening of Pandoras box, but its so much deeper than that.

It shows how there is a supernatural cabal of principalities that makes selections for who becomes what and who is chosen or selected for roles in movies or to direct movies and the deal making with the devil and also inheriting and channeling the talents from demonic entities from the realm these entities reside.

The main character of Betty is look into the fractured personality of an MK Ultra like fractured personality which comes together over the course of the flick. Mind control is a central mechanism in her arch as well.

"The Cowboy" is the archetype of Satan who is seen as a meme in many films such as the "The Big Empty" More recently seen in WestWorld as the Man in Black and many others.

I could go on and on , but its a theme with Lynch to explore the very powers that be in the form of the principalities.Im not sure if he reveres them or is warning us either way its a look inside.