We're Just Friends by Wilco explores the complexities and emotional nuances of a platonic relationship that perhaps harbors unspoken romantic feelings. The key themes of the song include the blurry lines between friendship and love, emotional tension, and the denial of deeper feelings. Poignant moments in the song often highlight the internal struggle of maintaining a facade of friendship while possibly yearning for something more, making it a heartfelt and relatable exploration of human relationships.