Three Dog Night's "Joy to the World"

A couple weeks ago, I happened to think of Three Dog Night's "Joy to the World" (from the album Naturally), specifically the line "And he always had some mighty fine wine," and I realized that it uses some poetic devices.

Initially I noticed just the assonance among "mighty," "fine," and "wine."  They all have long I sounds.  When I typed this out just to make a note of it, I also realized that there's internal rhyme with "fine" and "wine."  Along with just making the lyrics sound euphonious, the elevated language gives an-other indication of the high quality of the wine it's describing.