This is referring to the earlier line “Take some Big and some Pac” Em is now throwing Big L into the mix

Also by saying “on top” Em could be speculating that Big L is better than Biggie and Pac

Jay could be paying homage here to R.A. The Rugged Man’s verse from Uncommon Valour.

That makes it official Krispy Kreme is the realest in the game.

Great double meaning here. At first glance you think Krispy is just saying he will physically scar you, but I think Krisp is also saying that the same way Scar (from the lion king) plotted against his brother Simba and ultimately took the throne from him Krispy Kreme is taking the throne of hip-hop. This is also referred to on the later ling “Ball so hard record labels wanna sign me” seeing as Jay an Ye are the Throne

No doubt the thing rap fans want to hear most at the beginning of a song

K.K., who’s known more for his deep lyrics, is making a track that appeals to his fan base that likes jams you can bump at the club

Big Mike saying goodbye

Mike isn’t ever going to forget his friends even after their dead

It’s common for people to pour alcohol no the block for their dead friends like here

No one wants to accept that it’s partly the deceased’s fault for choosing the life he did and all his friends don’t want to change that idea for his mom