More than one writer has noticed that the chains on the humans' necks are quite loose. The human figures could remove them ... but they don't want to. To some extent, they enjoy their "captivity."
Note also that the human figures are starting to take on the characteristics of The Devil ... they've sprouted horns on their heads, and they've grown fiery tails.
The Devil figure is a parody of the Magician. The Magician points upward with his wand; the Devil points downward with the flaming torch.
Note also the similarities between this card and The Lovers a man and a woman, both naked, with a large "angelic" figure hovering over them. And the man is reaching for the woman's hand.
The Devil's right hand is making the "ש" gesture; "ש" is the first letter in the Hebrew word that is transliterated "Satan." This same gesture is used by Jewish rabbis, since "ש" is also the first letter in the word "Shalom" (this is the origin of the famous Spock/Vulcan/Star Trek hand gesture meaning "Live long and prosper" ... Nimoy saw his rabbi making this gesture during synagogue services).
One interpretation of this card holds that if it comes up in the context of marriage, it's a good sign, because it indicates "powerful bonds!"
One writer says of this card, "Inhibitions can enslave as easily as excesses. They can keep you from following your passion to the highest heights."