Other posters have hit on this, but just to pound it into the ground–that is totally NOT what Bat Out of Hell was. It wasn’t that huge when it was released. But it was unique, and it was appealing in its own offbeat way, and it just sold and sold and sold for years–nay, decades, afterward. Then it was discovered outside of the US and it sold and sold and sold overseas as well. It has legs.
As a hard rock / heavy metal person, it was more Broadway than rock, but at least it was better than Journey and Styx 
My favorite Steinman has always been This Corrosion by Sisters of Mercy: The Sisters Of Mercy - This Corrosion HQ - YouTube
Found it. It has rather more profanity in it than the studio version, so I’ll make it so you have to deliberately click on it.
DeVito pretty much nails it, but it’s not one of Meat’s finer moments, vocally. Still, I can see where that performance could cause a stir at the time.
I’m a big fan of Meat. I saw him during the BOOH2 tour, and got him to sign my concert ticket. It tickled me when I saw many folks from the local RHPS cast lined up with me to get his autograph - I don’t know why I didn’t see that coming. Bombastic, operatic vocals, great production. . .the lyrics from BOOH spoke of love and relationships in a fun manner, but they managed to strike a chord nonetheless. Not all of the songs were overblown and/or tongue-in-cheek though. The final song, For Crying Out Loud, is just straightforward and heartfelt. He delivers a terrific vocal performance in a song that, for much of it, gives him little in the way of instruments to hide behind. Well, OK, there’s SOME bombast. 
It’s Steinman and Meat Loaf, there’s always going to be some.
The BOOH album seemed to me a blend of 50’s dead teenager/angst songs and 70’s arena rock, with a dash of Roy Orbison. I’m happy to see this thread so active. It shows how much this music means to so many people.
In the Classic Albums documentary, Todd theorized that Jim would come up with a terrific song title, then work to come up with lyrics to justify it.
It happened a lot – a lot more than just a lot. 
It was the norm for kids who had cars. For you it is a trope; for me and my friends in high school, it was reality.
If it’s any consolation for you, Tim Curry slaughtered him with a pickaxe.
Elements of Elvis with edge.
When I first saw the album in the record store, I thought it must be a metal album until I saw the name of the artist. I’m 50; don’t love it, don’t hate it.
To me it was more like Wagner than Broadway.
Damn, I loved me some BOH, both I and II, back in the day!
49 and I hated this album and still hate it. I understand the appeal though.
Top forty radio or country was all we had. Pre-MTV and pre-cable. After a steady diet of disco, Barbara Streisand, and “Billy, Don’t be a Hero”, this was a breath of fresh air.
Based on the other songwriting credits noted here, I’m surprised they would do one of his songs!
My 15yo son said he thought it was mainly a trope as well. What I’m failing to understand here is why this would cease to be a reality? As noted (by me and at least one other person) upthread, it does not require a large car. I suppose part of it could be that teenagers are not getting licenses as young, but there are still a large number of 17 year old boys especially with DLs.
ETA: I think I’ll start a GQ thread to ask that question.