Yes, I agree that the meaning of the song is that all you need is love and that that is what you need to have to live a meaningful life. Also, the song is saying that you can't really do anything without love. I also think that the Beatles are saying that love can be found in every aspect of life.
The lyrics that stand out to me are "all you need is love...nothing you can sing that can't be sung." That line shows to me that no matter what you do, love will always be there and that there can't be any words used to express what love is and how it feels like. It is also saying that love is everywhere. Another line that stands out to me in the song is "there's nothing you can make that can't be made." This shows that love already has to be there- you can't really make it work. It takes time.
The video for this song shows the Beatles sitting around a room with a lot of people singing the song and playing different musical instruments. There are balloons ad streamers around the room they are in, which means there is a party going on. Everyone is sitting together, which might signify love and togetherness. I also know that when the Beatles wrote this song, it was in the time when peace and love were very big topics at the time, mainly because of the Vietnam war and that was very important to the Beatles. This is probably why they wrote this song in this time period. They were all about peace and love and spreading those to messages/ideas around.