Incidentally, Jingus's position here is akin to reader-response theory. This book for example:
This was big in about 1980. And is similarly considered outmoded by most in the academy.
However, what you realise if you take the long view is that over about 200 years, you see the same positions come round again and again. It oscillates back and forth between text and context, and between a tendency towards complete subjectivity or complete objectivity.
The answers aren't easy.