Elton John - Blessed Lyrics Meaning

As this lyric was written by Taupin - not Elton - and yet it clearly refers to a want-to-be parent dreaming of his child in future-tense ("You'll be blessed") - AND, given that Elton and David some years after the writing of this lyric in real life do actually adopt two infant children, we can only conclude that Elton had early on taken Taupin into his confidence about his wish to be a father. Not unusual, really. Taupin has written dozens of lyrics as if he were Elton.(i.e. The entire set of lyrics from the Captain Fantastic album).
They're like psychic twins, it sometimes seems.

And now that Elton IS a daddy, we can surely assume that his adopted children will lead blessed lives, considering Elton's great material wealth, his fabulous imagination and his just-plain like-ability.