Even the most informed observer might struggle to know what to make of the summit meeting between President Trump and Kim Jong-un of North Korea.

Colorful theatrics, such as a four-minute video that Mr. Trump showed Mr. Kim, gave the event an air of surrealism. Expectations ranged wildly, with Mr. Trump promising the deal of the century and many analysts fearing a blowup similar to what happened at last week’s Group of 7 meeting in Canada.

And Mr. Trump’s habit of making misleading statements, along with his record of defying norms, can make it difficult to parse which of the summit’s outcomes matter and which don’t, which bring Mr. Trump and Mr. Kim closer to their respective goals and which move them further away.

Here, then, is a simple breakdown of 10 major takeaways from the meeting and why they matter.

What Happened and Didn’t

(1) Almost any talks between the United States and North Korea, while those talks are continuing, significantly reduce the risk of an accidental or unintended slide into war, which could kill millions. The simple act of talking changes North Korean and American behaviors and perceptions in ways that make conflict far less likely. That’s a big deal.