this poem is moving me to tears. the only reason twitter user yiffpolice thinks it's self-evidently garbage is theyre trying to read it as prose
i read "the holy stuff won't take" slightly differently though. when you look at other things that are said to "not take" it's an expression that refers to impermanence, generally of training or a mark. in that context, for holy water not to take comes to mean that the speaker will not remain holy after a baptism, with the suggestion from "you and i both know" that this has already been proven
the use of the word "take" further reinforces the idea of training or marking and ties in with the idea of the speaker's incompatibility with holiness by suggesting that god has rejected them, that they have rejected god, or both
this also ties back in to the request for baptism in the opposite of cleansing water and creates a narrative in which the speaker has tried repeatedly to be Good but to no avail and is now choosing to try being Bad on purpose in search of a choice at which they can succeed, but needs help to do this; needs someone to baptise them. the implication being that they've spent so much time trying uselessly to be Good that they don't know how to stop
with hot dog water as a metaphor for human connection, especially framed as a foil to divinity, this turns the poem into a call for help from a speaker whose righteous isolation is killing them but who only has one person, if any, who can connect them to their first real community, which they hope will destroy the urge to be Good with a permanency that destroying the urge to be Bad has never had
EDIT BC I'M NOT DONE: also the way the only two-syllable words are "baptise" and "water" and "holy" suggests a rejection of the lofty in favor of the base
"baptise" is semisarcastic, used only as an explicit and intentional misappropriation for want of a secular equivalent
"water" is even more explicitly appropriated from its orifinal context, with holy water being reduced to holy "stuff" and the water itself being explicitly and intentionally corrupted and placed at the opposite end of the line from "baptise"
and "holy" is of course separated by an entire line—one which speaks of agency—from both of these sister words, only to be directly rejected wholesale
EDIT 2: someone in the notes said its trochaic and i realized:
the first line is in trochaic tetrameter, which sets you up to read the second line as trochaic, but its five syllables have a symmetrical stress pattern, which leads you smoothly into the iambic trimeter of the third line, which is not only an inversion of the trochaic first, but feels clipped by comparison
this poem, hated by the poet (which thematically adds to it, imho), is not just moving in content but also technically very well constructed