For those who haven't seen it, really it's a big feature lenght commercial for Nintendo. Honestly it's pretty much a rehash of Tommy with a few changes, mainly replacing pinball with NES games - oh, and no music outside from a couple little montages against music of the day. No big symbolism either.
Seriously though, that's what it is. Jimmy Woods is Tommy. Lucas Barton is The Champ. Instead of being told that he never witnessed the death of his father (Tommy), Jimmy slips into his sickness because he witnessed the death of his sister and so forth...