The subject matter, the overarching irony, and the virtuosic writing serve as a homage to Liszt’s Mephisto Waltzes, though rather than a dramatic dance, this work unfolds as a delirious fantasia. In a constantly ambiguous atmosphere, Scriabin himself described it as "the apotheosis of insincerity. It is all hypocritical, completely false." Two main themes illustrate the devil’s various manipulations: the first, dolce appassionato, represents seduction, while the second, riso ironico, conveys a demonic laugh.

This mocking attitude will resurface in later works such as Enigma Op. 52, Ironies Op. 56, and the Poème Op. 63. The compositional style itself shares affinities with other Poèmes—such as the Poème Tragique Op. 34, with its dissonant repeated chords—as well as with the Sonatas, especially Sonata No. 4 Op. 30, which features a three-voice accompaniment with the melody placed in the middle part.