Interesting take.
Going by the recording though, Keith plays it acoustically in open E tuning capoed at the 8th fret (key of C), and the familiar strumming pattern is mostly an exchange between sus. versions the I (E) and IV (A) chords, relative to the capo.
The electric guitar is in standard tuning, and follows with C to F riffing.
That's how I recall learning that song and how it goes.
Not trying to poke holes at all in your analysis. I just would not have described it as you did guitar playing wise. Just trying to better figure out what you mean or the angle you're coming from.
