There are many interpretations of this poem. One of them is that this poem is complete utter nonsense and is very similar to the bizarre quality of dreams. Another interpretation is that the Khan represents Coleridge's impotence as a poet and a writer. The Khan has flashing eyes and floating hair and has built himself a pleasure dome but not much else. Another strange interpretation is that the chasm and domes represent sexual symbols and that the entire poem is about sex (A really strange interpretation).