As a Mother of Two "Wild Things"

I agree wholeheartedly with you, Nathan, on this - I think it's about punishment and grace! But also, I think Sendak really captures the heart of boys in this book and I really get this better now that we have two of our own.  There is a "wild thing" nature in boys that girls just don't have -  (believe me - I've watched a thousand girls soccer games and you might have some outlier girls, but boys just play and act with a "wild thing" nature about them).  

I feel like we've played this entire "where the wild things are" theme out with William a million times and we'll play it out a million more times before he grows up.  Also - you have to admit, the illustrations, which I think are great, are a key element to the the cult status of this book (and most other children's books).