The document discusses the Render API in Drupal 7 as a successor to the Form API and theme system in Drupal 6. It describes three ways to build the presentation layer: the noob way using inline PHP, the Drupal 6 way using theme functions, and the Drupal 7 way using renderable arrays. Renderable arrays allow content to be altered in a common way and provide advantages like transparent caching and attaching resources. Key aspects of the Render API covered include hook_theme, the renderable array structure, content altering functions, and performance/caching techniques.