So I thought this was pretty clear but upon reading what people are saying here that doesn't seem to be the case. Now, I don't think every verse is showing out to KOTD/URL and their members, but the majority of them seem to. Let me make some points:
1. We know Dizaster is Em's favorite battle MC currently, which shows he probably still keeps up with the movement, even if just the major title matches.
2. His most recent focus prior to XV was Total Slaughter.
3. Nearly every verse is written like Dizaster/Bender, even the acapella cypher he was using their entire style. Just pure spazzed out multi stacking beginning to end. This on top of the fact that he not only acknowledges Diz but Diz is his favorite artist in the scene.
4. He straight up pays homage to the Diz vs. Pat battle on the opening track. http://youtu.be/JrDhEzASzMA?t=41m49s
5. A battle MC can't be interviewed today without Em's name getting brought up with regards to stepping back in the ring, mostly due to the fact that he's the only mainstream cat who came up through it. I don't think it's a reach to assume with this project that he was showing he's still relevant in the circuit, especially given his recent involvement in it.
I have a few more small points but I don't think they're pertinent, just thought I'd share my take on XV. Which is arguably my favorite Em work to date, I know most of you hate the rapid fire flows and shit but you need to understand there's really nowhere else for him to take it at this point, and there's a handful of other artists who have found themselves in the same position, making them very inaccessible to newer fans of the genre. He's just showing he can keep his head above water with today's elites, and I think it was directed towards them and their fans as opposed to the mainstream crowd.