A reference to My name is
Eminem’s younger brother was twelve years old when The Slim Shady LP was released. So, Eminem must be talking about himself in some way.
In this article it says, that Eminem was temporarily blinded on his left eye, because of D'Angelo Bailey.
Eminem uses Canada to diss Canibus, because Canada sucks in Em’s eyes.
He also did this on Can-I-Bitch.
Also, Canibus is said to have his roots in Canada
“Making it rain” might also be a reference to the aforementioned R'n'B singer R Kelly who is known for having peed on minor age girls.
Might be a double entendre:
He has ice in his veins and blood in his eyes.
But “eyes” sounds like “ice”.
That means he’s got ice in his veins and blood in “his ice”, which means that his blood is frozen.
I’d suggest to replace the second point by the following:
2)Em' has a half of paradise.
Eminem often refers to his rap career as half-great half-awful:
“Cursed and blessed” “25 to life”
“Like a fuck you for Christmas, his gift is a curse” “Not Afraid” both off album Recovery.
Or maybe add a fifth one?
The lyrics are supposed to be “M&M”, not “Eminem”.
Who changed them?