Desmantelo comes from the verb desmantelar, which means "to dismantle" or "to take apart." It's a strong and active verb that isn't heard in every song.
In the context of this song, Haraca Kiko uses it to convey a sense of power and dominance. He sings, "Por eso es que yo los desmantelo" (That's why I dismantle them), implying that he easily defeats or takes down his rivals or those who oppose him. It's a vivid metaphor for overcoming challenges.
"Bobo" is Dominican street slang for a sucker, and Haraca Kiko spends this entire record claiming ownership of them. The hook is built to be chanted: "Y los bobo' son míos, míos" (And the fools are mine, mine), then "Que bobo' son de Haraca" (These fools belong to Haraca). He never says who the fools actually are, which is the joke. If you are asking, it might be you. The pre-chorus flips the angle to "Se bu'can un bobo" (They're looking for a fool) and repeats it until the word falls apart into "Se bu'can un bobo, bo bo bo bo bo" and stops meaning anything.
The verses are where he makes the case. "E'to se convirtió en una locura" (This turned into madness) is how he describes his own rise, and "Ahora Haraca Kiko es una figura" (Now Haraca Kiko is somebody) is really the point of the song. People came for him and missed: "Se quisie'n llevar un brazo, pero no pudieron" (They tried to take an arm off me, but they couldn't). Then he drops an egg metaphor out of nowhere: "Se me llenó el cartón" (My carton is full), "Ya yo no pongo más huevo'" (I'm not laying any more eggs), which is a very funny way to say he has stopped taking risks. Leo RD's beat stays out of the way and lets him talk. The last half minute is just Kiko shouting out his people: "Tivi Gunz, Pachá 37", "Bebé, Cristo Rey", the way a dembow track usually signs off.