baazii-;xvur-e fareb hai ahl-e na:zar kaa
;zauq
hangaamah garm-e ;hairat-e buud-o-namuud thaa
1) a {loser through / 'trick-eater' of} deceit/beguilement
is the taste/relish of the people of insight
2) the gathering/turmoil was eager/hot for the amazement/astonishment of
existence and manifestation/show
baazii : 'Play, sport, game, trick; game of chance, hazard; gaming; stake (at play), wager, bet.... baazii khaanaa , v.n. To be beaten, to lose, be cast'. (Platts p.122)
hangaamah : 'A convention, an assembly, a meeting; a crowd; --noise, tumult, commotion, confusion, uproar; sedition, disturbance, disorder'. (Platts p.1238)
namuud : 'The being or becoming apparent, visibleness; appearance; --prominence, conspicuousness; --show; --affectation; --display; --pomp; --honour, character, celebrity'. (Platts p.1154)
For background see S. R. Faruqi's choices.
Gyan Chand's text has buud-o-nabuud ; as usual I adopt Raza's reading, which seems in any case much more suggestive. Either way, there's some kind of confidence game going on, maybe a shell game. The con artist is befuddling the people of 'sight' or (presumed) 'insight'. He's able to do so because they really want to believe him, they want to see magic and wonders. On the complexities of fareb , see {71,3}.
What they want is to feel the 'amazement' or 'astonishment' generated by 'existence' and 'manifestation'-- the latter bearing all its freight of 'show', 'pomp', etc. (see the definition above). The spectators are so eager to be entertained that they suspend their normal skepticism and 'insight' so that they can fully enjoy the show. (As we all know, there's one born every minute.)
And the con artist is glad enough to oblige. Perhaps he's doing a cosmic card trick-- think of {81,2}, in which we ourselves are the card-trick. In that verse, he's the 'card-player of thought'. In this verse, who is he? Someone who shows us all kinds of wonders, spectacles, marvels, shows-- but then disperses them again in a moment, leaving us befuddled and forlorn (and perhaps fleeced, too). Would God treat us like that? If not God, than who? Fate? Life in general?
Gyan Chand:
The people who were looking at the scenes of the world and enjoying them, were in reality being deceived. All the world's turmoil is in the amazement at the way things come and go. (65)