Yeah that is the reading most people get from this as an 'Impersonal' reading of the poem. Eliot was adamant in is 'Tradition and the Individual Talent' that the poetry should always be separate from the poet, so I don't know whether to be taking out a social context from the poem is best approach. But I think there is a lot of stuff concerning the First World War and themes like death and re-birth are really prevalent in the text for discussion. I find it funny that this poem is considered one the greatest poems in the 20th century and Eliot's response to his own poetry and to the criticism was that The Wasteland was a mere 'piece of rhythmical grumbling'. lol
I read some early drafts of this poem, Pound cut out a buttload of material.