Srila Suta Goswami summarises Srimad Bhagavatam in his prayers as:
A. Natural supplementary commentary on the cream of Vedas - Vedanta Sutra B. Transcendental torchlight C. Very confidential supplement to the Vedas (Purana) D. Provides light for gross materialists to cross over the darkest regions of material existence E. Can be explained by one who has become Bhagavata by realizing it
Natural supplementary commentary on the cream of vedas - vedanta sutra-2. transcendental torchlight-3. very confidential supplement to the vedas (purana)-4. provides light for gross materialists to cross over the darkest regions of material existence-5. can be explained by one who has become bhagavata by realizing it-this is explained in sb 1.2.3 verse
srila suta goswami describes srimad bhagavatam was spoke by sukadeva goswami
svnubhvam akhila-ruti-sram ekam (sruti saram refers to vedanta sutra, which is cream of vedic knowledge and bhagavatam is a natural commentary on vedanta sutra.
adhytma-dpam - it is the transcendental torchlight.
pura-guhya - it is most confidential purana. confidential because it gives most confidential knowledge. similar to covered by lord krishna in 9th chapter of bhagavad gita.
atititrat tamo ndham - provides light for gross materialists to cross over the darkest regions of material existence
svnubhvam akhila - sukadeva goswami realized it by practicing and experiencing this transcendental knowledge before he explained it. srila prabhupada explains in the purport rla ukadeva realized it personally and then explained it. by the mercy of rla ukadeva, the bhgavata-vednta-stra is available for all those sincere souls who want to get out of material existence.