What is the significance of Prophet Muhammad leading the prophets in prayer on the night of Isra and Mi'raj?

The reason for the Prophet's leadership (Imamah) of the prophets in prayer at al-Masjid al-Aqsa indicates that he is the greatest Imam, the foremost of the prophets, and the best of them, and Gabriel (peace be upon him) pointed this out. It is narrated in the Hadith that the Prophet (peace be upon him) said: "I am the master of the children of Adam on the Day of Resurrection, and the first for whom the grave will be split open, and the first to intercede, and the first whose intercession will be accepted." It may also be an indication that this Ummah will assume the leadership of humanity.