Eyes Wide Shut

What does the phrase “eyes wide shut” really mean? It seems to be a contradiction. It could mean that a person refuses to see something in plain view, because of preconceived notions of what this something should look like or what they would like it to be. And this frequently happens to naïve people. It also doesn't only apply to naive individuals as the definition is very much a play of words. It applies to those who choose to enter into or take on something and all the while are fully aware of the perils or dubious outcomes that may lie right before them. It sometimes can be an ignorance to the obvious and not listening to intuition. Are your eyes wide shut or are your eyes wide open?