Full of references to withcraft and mysticism the story combines ancient English practices of Morris Dancing and the Maypole with Dridic and Celtic legends. Throw in some witchcraft, black and white and Satanism and you have all the makings of a good science fiction story.
Actually the story links the magical elements more with superior science than with devil worship and clearly attempts to show that the representations of the horned demons owes more to early visits from aliens than satanism. The rites and rituals thus evolved as ways of communication with the aliens and ways to cope with their powers.
This story owes a lot to the earlier Quatermass movie where a strange spaceship is discovered in a London Undergound station in an area dominated by streets with devilish names. It is soon discovered to contain elements of Martian life which have a devilish appearance and which cause the local inhabitants to indulge in group killing and other alien behaviours.
There is also a strong undercurrent of the writings of Dennis Wheatly in the script as the devil worshipping practices are measure and correspondent to Christian ones, with the Master assuming the role of the High Priest.
Towards the end of the story the portrayal of the Daemon as being intelligent armed with superior science but with a simplistic moral code is a dramatic scary affair but which makes a good point.