“On booty duty like your name was Eddy Thatch.” is the lyric in question.
When I explain who Eddy (or Eddie) Thatch is, the lyric will finally make sense. Are you ready?
“The true identity of Blackbeard differs between official records, personal accounts, and fictionalized history. Edward Teach or Edward Thatch or Edward Drummond was most likely born in Bristol, England around 1680 (Although some unverifiable reports say he was from Jamaica, London, or Philadelphia). Like many other young men of his time, he probably served aboard a British privateer in the West Indies during the War of the Spanish Succession (Queen Anne’s War) and chose piracy over unemployment at war’s end.”
That’s right! Eddy Thatch is one of the assumed names of the legendary pirate Blackbeard.