Like flowery speech the unwise preach, eulogizing the words of the Vedas superficially (knowing not the logics of hidden messages and where they come from) and exalting Vedic doctrines, saying “There is nothing else!”
Eulogizing words of Vedas or any scripture superficially without understanding its deeper meaning is denounced in this Shloke. Conceptual understanding of scriptures is recommended, just the same way as a teacher asks her student to pay attention to concepts and learn applications. Not everyone is able to solve critical math problems expect students who understand concepts in-depth. Similarly, chanting mantras without understanding makes no sense and derive little benefit. However, when the same is done with proper understanding the message is absorbed in character. Wearing a locket of God or visiting temples or offering prasadam are procedural insignia and contribute to social provisions. These are just packaging of religion, not religion itself. Cultural festivities may be important to motivate youngsters, feed the needy, and align the teams,  but masses should also be guided to understand religions as concept and absorb the virtues in shloke, in order to reflect them in action. Gods and deities are to be absorbed and reflected in action, not just prayed superficially.

As a small well of water against large flooded aquifer is, so is the essence of all these Vedas, against the one who knows the ways of Brahma.
He, who understands the scriptural sayings to their roots, knows a thousand times better than those who just read scriptures superficially. He can derive many other inferences from the basics, which may not be quoted in Vedas and scriptures. This is called Tatwa Gyan and Brahm-Gyan, which is not found in scriptures directly. Such people would be the master in applying concepts of Sanatan Dharma is day-to-day life. As time changes, people fail to connect their surroundings and situations with Religions, which are said to be eternal. Truly they are eternal, provided we can understand it conceptually and apply to our situations. No prayer, worship, fasting, and fundamentalism is of any worth if it does not translate into actions dedicated to God or His creations, humanity or the nature. Saving or supporting a life is lot greater worship of the god, then chanting Mantras written in scriptures without understanding it. And if we do understand it then it must reflect in our decisions, behaviours and actions. Failing which all chants, and knowledge of scripture is of no use. Buddha said, “saving a life is greater than taking it”. Kabir Das said, ‘Man changa to Kathauti mein Ganga’ i.e. Clean your hearts, then all water in neighbourhood is Ganga water (which is said to purify people). Jesus said, “Love thy neighbour’ and Prophet taught honesty and care. All this has common message: we need to adopt and absorb scriptural notions into our behaviour, which is more important than any other worship and “Karma-kaand” i.e. rituals. One is Sanatan Dharmi or not depends on how he thinks, acts and behaves, not by how many times he visits temples, chants, fasts or prays. Law of nature is same for all humans. Scriptures of Hindu, Muslims, Christianity or Jews cannot change it, but describe it with different perspectives.