It's a monument style sculpture. The kind raised with public money. I think that carries part of the meaning with it versus graffiti or some other medium. It's also depicting the blinded walking off the edge, making the comment based on both the figure and the form of the statue.

Since last summer a lot of flags appeared all over the UK.

https://en.wikipedia.org/wiki/Operation_Raise_the_Colours https://manchestermill.co.uk/the-men-who-raised-the-flags/

The ambiguity is part of the charm. Something that reveals more about the beholders than the artist makes for stimulating conversation and discovery.

Even the new positioning of the art on a plinth in some open space is enigmatic. If it were a critique of the powers that be, why would officialdom collaborate in propping it up?

Exactly.

Communists are blinded by the flag with the hammer and sickle.

Teachers and doctors are blinded by trans ideology and its flag.

Examples abound, but wanna transgressor blanksy knows who butters his bread.

Interpretations, in my art?

Seriously, this is part of the fun of art. Neither of you are wrong for reading different messages into it.

Flags overwhelmingly represent nations, groups considering themselves nations, that were nations or have some kind of individual governmental status.