Yes it is, the song is clearly about taking advantage of someone who is intoxicated. "Doesn't take a genius to do this right," as in, it does not take a genius to convince a drunk girl to have sex with me.

Sindri is actually an asshole in my opinion. He's written countless hateful articles on Icelandic papers and called himself a better composer than his mom. He also made a Facebook post saying how awful it was growing up being the son of a famous musician and knowing he would always be compared to his mom, and how he would like to never talk about the fact that they are related and will berate anyone who dares bring it up. While I understand his frustration, he's clearly got a lot of issues. He's quite a hateful person from all that I've read.