He listed some cats that he fukked with lyrically and basically said that everyone else can get it, Lupe wasn't on the list.
Not a direct shot but Lupe known to jump at any hint of a challenge so people brought that to him.
Lupe got the lyrics but he ain't got the energy. For him to go at Em, he'd have to actually say something potent that would require to make an issue when there is none. Ain't too many people that can just flat out-rap Em so you either gonna have to take a real disrespectful personal shot or talk about race or something. Ala Ja Rule.
Lupe is not about to "Ja Rule" Eminem just for the sake of competition.
Only an idiot would try to be super lyrical on a diss record anyway

Eminem no longer has the diplomatic immunity,folks is ready to get him the fukk outta here.
On the mic as far as witiness he is washed.
Damn near any Detroit rapper could take him out the game right now if they wanted to,from Sean,Tee Grizzley,Sada Baby. Too much ammo to body Eminem

After hearing that G Eazy diss I'm pretty sure he would beat Eminem to at this point.