The track, "Eazy," dropped early Saturday, and as expected ... Ye laid into Pete Davidson. But that's not even the real takeaway in our minds -- indeed, he says he wants to beat PD's ass, but his main beef seems to be with Kim ... and how he thinks she's raising their brood.

Check out his verse for yourself ... it's scathing to say the least, almost like his own rap diss.

Right off the bat, Kanye says ... "How I ain't bring nothing to the table, when I'm the table?" ... going on to rap that he's going to "turn up the music, wake up the neighbors," among other incendiary lyrics. Sounds like Ye's not ready to put this matter to bed quietly.

He hits the point home even more so later, when he raps ... "N****, we havin' the best divorce ever // If we go to court, we'll go to court together // Matter of fact, pick up your sis, we'll go to Kourt's together."

There's more ... Kanye says he "watched four kids for like five hours today," echoing what he claimed to Hollywood Unlocked about allegedly being restricted from time with his children. But then, he goes for the jugular ... rapping, "I got love for the nannies, but real family is better // The cameras watch the kids, y'all stop takin' the credit."

Speaking of those kids (his kids) ... Kanye dishes a little truth medicine (in his mind, anyway). He raps, "When you give 'em everything, they only want more // Boujee and unruly, y'all need to do some chores // Rich-ass kids, this ain't yo mama house // Climb on your brother's shoulders, get that Top Ramen out."

And, of course, the PD line everyone knew was coming ... "God saved me from that crash // Just so I can beat Pete Davidson's ass (Who?)." In the same breath, he shouts out his new GF, Julia Fox, rapping ... "And my new bitch bad // I know Illuminati mad."