Dear Drearyeather: The New Covenant is for forgiveness of sins. potentially for all sinners. It is not the kingdom covenant for just a few.
The Old law Covenant was with all. They all partook of the passover "emblems". The priests, kings had their separate covenants.
Unless you eat and drink, you will have no eternal life. (Jesus in John six)
That song is an idolatrous self praise that the R&F is conned to participate in. stand upright, read and sing.