On Friday, Em dropped both his newest single "Houdini" and the lyrics/visuals are exactly what you'd expect from hip hop's biggest-selling artist by now -- and so are the jabs that he fired off ... like the one aimed at MTS, which touched on her Tory Lanez shooting.

The song sounds and looks like his 2002 "Without Me" classic ... Em pokes fun at aging into a politically correct, social media/VR society -- yet still dons the 'ol Robin outfit and tackles today's topics with his Batman -- Dr. Dre -- by his side. Eminem is in rare form here.

Tons of cameos are stuffed into the slapstick vid ... Snoop Dogg, 50 Cent, The Alchemist, Pete Davidson, Shane Gillis, -- all contribute to the circus ... as do his kids Alaina, newly married Hailie Jade, and Stevie, all of whom he flips the bird to.

Like we said, Em also pokes fun at Megan, rapping ... “If I was to ask for Megan Thee Stallion if she would collab with me / Would I really have a shot at a feat?”

It might sound like a harmless bar ... but her injuries were no laughing matter at the time ... and we suppose time will tell if/how Megan responds. We know she doesn't like it when other artists have referenced the shooting in their music in the past ... it's been a whole thing.

There are also digs at the incarcerated R. Kelly and lines about transgender folks ... fans have been giving J. Cole crap for similar lines … let’s see how the picket lines stack up for Em.