According to Dictionary.com:
I would've thought you were right and it wasn't a real word. I guess Celion's songwriters are smarter than us.
As for your second point, considering that Burt Bacharach told us almost 40 years ago that "what the world needs now is love", not to mention the Beatles singing "All You Need Is Love", Celion is a little behind the times. Maybe that's the ironical part.
Third, I guess they're trying to say if you buy a $30,000 you'll be loved, give love, and make love at all the same time. Amazing, isn't it? Who knew.