The discussion revolves around the concept of heat as a physical entity. Participants clarify that while heat exists at the atomic level, it cannot be contained in a tangible form like a jar. Comparisons are made to other abstract concepts that also cannot be physically stored, such as color or speed. The phlogiston theory is referenced to highlight that heat can be generated without consuming substances, emphasizing its intangible nature. The conversation includes a humorous remark about using a "bucket of BTUs" to illustrate the idea, while cautioning about the dangers of heat. Overall, the consensus is that heat, while a physical phenomenon, does not have a physical form that can be jarred or contained.