Theory doesn't explain art; theory is art. (And art, theory.)
Blue Velvet is not Oedipal or Freudian; it deploys some Freudian gestures but it does things with the Oedipal Complex other than exemplify it.
Art and theory exist on the same plane and yet occupy different planes that intersect, interact, or don't. But neither is subservient to the other.
Theory goes with art as any art goes with art.
Mentioned here: Deleuze & Guattari, Foucault, Freud, Jasper Johns, Matthew Ritchie, and more!