The thing I like most about this piece are the sounds. The guitars give a warm feeling and the track is well balanced, which is good, considering the various ideas rolling around in the texture. The general structure feels pretty loose, but at the same time, ideas seem to be focused on one particular spot in time. When I listen to this entry (and I feel similarly about "Bridge" as well), I feel like I just stepped into the middle of a track and that one aspect of time plays itself out. To me, it's kind of like portraying a still picture sonically, which seems to be exactly what the art calls for.
One thing I find confusing to grasp is your description of the entry suggests progression which is not evident in the track. Normally, the expectation is that there would be a change in the feeling of the composition that shifts from the fear of the dragon retaliating (as an example) to the gradual act of becoming the dragon's friend. The track feels too stuck in a particular loop to express any sort of narrative storytelling, at least for me.
Overall, I think the patterns within the textures of your entry are fascinating, and the track does lend itself to some replayability to get a sense of different ideas being played in front of me that I may have missed on previous listens. I'm not sure if I completely make that connection to the art inspiration or to the ideas attempted to being explored, although I think the sound design captures the warmer tones of the painting.