On the subject of "bald balden"
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The whole thing with single words is very complex, and individually they do not say much.
What is important is how the words relate to each other to make a statement.
For me it is most likely that the text comes from the eastern part. Between Switzerland and Austria, and southern Bavaria and South Tyrol.
Here the historical background would also be correct.
Peasant uprising from 1401-1408, which stretched from Lake Constance to South Tyrol and which first brought the Habsburgs a bitter defeat. This is one of the reasons why a naked woman (possibly later) was given the Habsburg crown. ( nothing happens without reason ). The priest Mütze possibly stands for the same reason.
( The pope threatened with excommunication, but it was of no use ).