I like Loser In The End, but I agree that it's probably the only song that doesn't fit the flow of the rest of the album. I don't think Roger would write a song about fairies even if his life depended on it.
musically "loser" is good, soild drum work, but somethings missing for me.
i think that loser had fit much better on sheer heart attack and flick of the wrist had fit on Queen 2
its always been my favourite queen album. its also in my top 5 favourite albums of all-time, 'amused to death' by roger waters being my favourite.
i can still remember listening to it for the very first time all those years ago. still picture myself in my bedroom, sitting on the floor, drinking a hot milo, and listening to it on a cheap plastic stereo. i liked it straight away, except for one track which i've never enjoyed. i would of dearly loved it if the band had of made a follow-up lp in the same style.
mind you, years later i remember hoping for the same kind of thing after radiohead's 'ok computer'.