What does 1 Corinthians 8:5 mean?

Paul is responding to the Corinthians' statements that the idols saturating their city have no real existence. God is the only true God. Paul agrees that there are many "so-called gods" in heaven and on earth, as well as many false "gods" and "lords." He has no disagreement with their premise that false gods and idols are powerless and lack substance (1 Corinthians 8:4).

The reference to "so-called gods" connects directly to the mention of "many gods" and "many lords." Paul agrees that there are many imaginary beings worshipped in pagan cities such as Corinth. A second-century Greek geographer, Pausanias, cataloged some of the gods and idols worshiped in Corinth. Among others, this list included Aphrodite, Artemis, Isis, Dionysus, Fortune, Zeus, Bunaea, Chronos, Poseidon, the Sun, the Sea, the Calm, and even a tree.

Though Paul agrees none of these have real existence, he will not conclude they are harmless. Paul described some believers in Galatia as having been enslaved to the gods who "are not gods" before coming to faith in Christ (Galatians 4:8). Later, he will show that any power or influence behind these fictional beings comes from demons, which definitely do exist (1 Corinthians 10:20–21).