That can happen. As a musician myself I ripped off unknowingly riffs from at least 3 songs (thankfully one was caught before recording) including one from a band I don’t even like, so yeah. But this theme seems just like an intentional take on a popular period song, which is fine. In the first “Pirates!” game I think all music was lifted from classical composers.
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Thankfully it’s old enough that modern copyright laws don’t touch it - public domain!
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Awesome pirating
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I think Michael Land is probably disappointed in our collective lack of musical knowledge that it took us this long to notice what was, for him, probably a really obvious and appropriate reference 
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