It can be, though some covers are "straight up", while others (generally the memorable ones) are practically a new creation in themselves, with a sliding scale

It can be, though some covers are "straight up", while others (generally the memorable ones) are practically a new creation in themselves, with a sliding scale in between. But for "cover song" meaning something like Hendrix's "All Along the Watchtower" or Coltrane's "My Favorite Things", I agree.