Like many of Philip K. Dick's works, which consistently challenge the distinction between reality and illusion, “The Eyes Have It” grapples with the question of knowing reality. In this unique storytelling mode, Dick presents worlds in which the boundaries of reality are blurred, inviting readers to question their own perception of reality. He blends larger themes of identity, memory, perception, and the subjective nature of reality, often leaving readers with a sense of existential unease. In this story, Dick focuses on a narrower theme of the psychological confusion that results from seeking this distinction.

The narrator frequently finds himself questioning the authenticity of both what he reads and of his perception of reality. He struggles to discern whether his experience or his reading is genuine and does not even pause to question whether either is a mere figment of his imagination or of paranoia. This may make him an unreliable narrator, as his perception of reality is clouded by his own belief and mental state. Throughout his reading, his mental state is demonstrated through his visceral reactions to the pulp novel. For example, he experiences “vague chills” (Paragraph 4), “gasp[s] with horror” (Paragraph 8), “sicken[s]” (Paragraph 20), and later grows “feverish, [with] teeth chattering” (Paragraph 22).