Taylor Swift traded in her cardigan for a corset and just dropped her 12th studio album “The Life of a Showgirl” … and the midnight drop came complete with lyrics that fans are calling some of her most cutthroat and authentically Taylor yet!!!

In classic Swift fashion, the dazzling album — which features 12 tracks — marks a new era for Taylor … giving her fans a glittery masterpiece full of perfectly curated lyrics and show-stopping melodies.

The track titles — being revealed previously on her website — are “The Fate of Ophelia,” “Elizabeth Taylor,” “Opalite,” “Father Figure,” “Eldest Daughter,” “Ruin the Friendship,” “Actually Romantic,” “Wi$h Li$T,” “Wood,” “CANCELLED!,” “Honey,” and “The Life of a Showgirl” featuring Sabrina Carpenter.

Fans have been anticipating the drop of this album since August when Taylor went on her now fiancé Travis Kelce‘s podcast ‘New Heights’ — and within minutes of the drop, Swifties were already dissecting the lyrics.

“The Fate of Ophelia” kicking off the album with a shoutout to her soon-to-be hubby saying “I heard you calling on the megaphone. Pledge allegiance to your hands, your team, your vibes. Don’t care where the hell you been, ’cause now you’re mine” — lyrics fans had immediately singled out.

Although many members of the Taylor tribe had expected her to take a dig at ex-bestie Blake Lively with “Ruin the Friendship,” fans note that it seems like more of a guy best friend troupe.

As we previously reported … Tay Tay is tipping her hat to the late, great George Michael with a track called “Father Figure” — and the icon’s former partner told us George would’ve totally approved of it.

Kenny Goss — George’s partner of 13 years — tells TMZ George would be proud of the tribute, which isn’t a straight sample, but an interpolation … meaning you’ll hear the melody of his ’87 classic woven into Taylor’s track … and boy are fans loving it.