I concur with this interpretation.
In addition - I might be too subjective here - we do sometimes project thoughts and emotional states on random details of the universe. If some doorknob or dog or ponytail caught my eye while I was having an intense phone conversation with someone, then after the conversation is over, when my eyes land again on that doorknob or dog or ponytail, I remember myself from a few moments ago very vividly, as if something from that phone conversation, from my feelings and thoughts during that phone conversation got stuck on the little detail that caught my eye. As if a few minutes of my past life have gained an independent existence for themselves, and I can bump into them directly any time.
Well, the old man looked like he was such a carrier of recently past moments - more exactly, the very moment when Taeko parted from her possible future family and wonderful life in the countryside. At least he felt that way for us - because Taeko wasn't looking at him, and we were the ones who kept watching him after Taeko left. To her, he was just someone loud and smelly enough to interfere with her current train of thoughts, but to us (the us partially looking at, partially briefly living as Taeko), he was the departure, maybe old and ugly and stinky and loud and careless, maybe simply there.
He is, after all, the last thing in the movie that belongs to the world where Taeko goes back to her bland and slowly saddening city life - right after she changes seats things start to appear that seem to come from another possible world, a kinder and warmer one, until she gives in and slides completely into it and away from some so-called realistic life. At that point, her previous years in the city must have still looked more like "reality" to her, and reality does have a tendency to frown and roll eyes at your dreams, ...unless you teach it to know better and to stop identifying itself with pessimism and bleakness .
...That, or maybe I'm just stretching the hell out of those few movie seconds .
there's a highway that is curling up like smoke above her shoulder
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