R’ Nachman writes an allegory on a trick of the Yetzer Horah. He is similar to a man who claims to have something special hidden in his hand. Everyone chases him to get that special item. But in the end he opens up his hand and there is nothing in it.
One aspect of this trick is the term ‘With-it’. With what? With nothing. Many people who consider themselves frum, would give up any mitzvah to be ‘With-it’. We should realize that it’s much better to be with Hashem than ‘With-it’.