In his song of thanks and praise for God, the author lists how much God has done. The Lord has done so many wonders and acts of goodness to him. No one can list it all. Therefore, the Lord cannot be compared to anyone or anything. We may think of the history of salvation up to that moment. For the author it is all too much to list.
Psalm 89:6–7 talks about the incomparable God: “For who in the skies can be compared to the Lord? Who among the heavenly beings is like the Lord, a God greatly to be feared in the council of the holy ones, and awesome above all who are around him?”
The Psalm now makes a transition, it is kind of a hinge above which you could write: How does the Lord want to be served?
5 You have multiplied, O LORD my God, your wondrous deeds and your thoughts toward us; none can compare with you! I will proclaim and tell of them, yet they are more than can be told.