"Who Are You" was recorded at the time when punk rock became highly popular. However, this was not reflected in the album's music, which incorporates elements of progressive rock and, according to biographer Tony Fletcher, it was produced in such a way as to appeal to commercial rock radio at the time. The album showcased some of Townshend's most complicated arrangements, with multiple layers of synthesizer and strings. Many of the songs also revisited themes from Townshend's long-contemplated "Lifehouse" project, featuring lyrics about songwriting and music as a metaphor for life, as indicated by titles like "Guitar and Pen", "New Song", "Music Must Change", and "Sister Disco". The latter two, along with "Who Are You", ultimately appeared on "Lifehouse Chronicles", Townshend's later actualization of the project. Several of the song's lyrics also reflect Townshend's uncertainty about the Who's continued relevance in the wake of punk rock, and his dissatisfaction with the music industry.