Word is spelled with a capital, meaning the Logos, or personal Word described in John's gospel: "And the Word was with God, and the Word was God, and the Word became flesh and dwelt among us, and we beheld His glory."
What is remarkable here is that John insists, that that Word revealed Himself to us in material form, addressing our senses, hearing, seeing and feeling, the three chief senses by which we recognize the material world. He wishes to demonstrate that the incarnation is a reality and not a shadow. "For the life was manifested, and we have seen it, and bear witness and show unto you that eternal life which was with the Father, and was manifested unto us."
It is said that no man is a hero to his body servant, who sees all his failings and faults and infirmities. Do you know that the human being who was the most intimate with the Lord Jesus Christ, who leaned on His breast, was the very man who writes this? Instead of familiarity breeding contempt, the very familiarity which John had with Jesus brought this overwhelming sense of His Divinity, His Godhead, and hence he speaks of Him as the Life, the eternal Life which was with the Father, "and" which "was manifested unto us." "That which we have seen and heard declare we unto you, that ye also may have fellowship with us." When men find anything that is especially excellent, they want to get a patent right on it and secure the advantages to themselves. But John did not want any patent right on his discovery of life eternal in the Lord Jesus; he wanted to mount the housetop, and, putting a speaking trumpet to his lips, shout to all the world to share his blessedness. "That ye also may have fellowship with us: and truly our fellowship is with the Father and with His Son Jesus Christ."
— Mile-Stone Papers, Part 1, Chapter 11.