In plain words
The Vairāgya that is the letter va leads one into the Tattva that is the letter ta. This knowledge of Tattva enters into Mukti. So Bhakti, the letter bha, through Jñāna, the letter ga, enters Vairāgya, the letter va, awakens Tattva, the letter ta, and enters Mukti, the letter ma. So we have to recognise that the Bhāgavatam is the steps that are the paths to Mukti.
In this Bhāgavatam the story of Prahlāda is most important. When this Prahlāda was a student, together with his fellow students,
There is no good in it, no divine glory, being born and born again, dying and dying again in the world; why should we roll about so? The path of no birth and no death: to seek it out is the noble mind.
he said. "To seek out the path is the noble mind," he said. Which path must we seek? We must seek the very path by which we came. Now we have become wretched beings who have forgotten the path by which we came. Where did we come from? Where are we searching to go? This is the blindness in our humanness. In the Bhāgavatam, this very thing: to go back to where it was born is the nature of every living being. Its goal is to go back to where it was born. We have come from Brahman. We have come from the Ātma. For that, we must journey towards the Ātma. That is why He said, "A part of Myself alone, eternal, has become the jīva in the world of the living." That is, "This world, this man, is a part of Me; not a part of Prakṛti, not a part of the five elements, not a part of anything else. It is a part of Me alone," He declared plainly. So we must try to go back to the place from which we came. That is the noble mind. But to forget that place, sink into the comforts and pleasures within this Prakṛti and live simply drunk and crazed: that is a brute mind. Purandaradāsa said this: "O Lord, only because I forgot You, whose form is Consciousness, did I have to take on this body of clay. This Prakṛti is made of clay. What is the reason for coming here? Only forgetting You." So why do we lead this kind of life in the world today? Forgetting God is the root cause.
All the pleasures and joys we experience are momentary. Śaṅkarācārya too said it. "Do not be proud of wealth, people or youth; Time takes everything away in a moment." The pride of wealth, of intoxication, of people, of strength: all of it is momentary.