SU(∞)-QGR is a foundationally quantum approach to gravity. It assumes that Hilbert spaces of the Universe as a whole and its subsystems represent the symmetry group SU(∞). The Universe is divided to infinite number of subsystems based on an arbitrary finite rank symmetry group G, which arises due to quantum fluctuations and clustering of states. After selection of two arbitrary subsystems as clock and reference observer, subsystems acquire a relative dynamics, and gravity emerges as a SU(∞) Yang-Mills quantum field theory, defined on the (3+1)-dimensional parameter space of the Hilbert spaces of subsystems. As a Yang-Mills model SU(∞)-QGR is renormalizable and despite prediction of a spin-1 field for gravity at quantum level, when QGR effects are not detectable, it is perceived similar to Einstein gravity. The aim of present work is to study the foundation of SU(∞)-QGR in more details and to fill the gaps in its construction and properties. In particular, we show that the global SU(∞) symmetry manifests itself through the entanglement of every subsystem with the rest of the Universe. Moreover, we demonstrate irrelevance of the geometry of parameter space and prove that up to an irrelevant constant it can be gauged out. Consequently, \sqgr~deviates from gauge-gravity duality models, because the perceived classical spacetime is neither quantized, nor considered to be non-commutative. In fact, using quantum uncertainty relations, we demonstrate that the classical spacetime and its perceived geometry present the average path of the ensemble of quantum states of subsystems in their parameter space. In this way SU(∞)-QGR explains both dimension and signature of the classical spacetime. We briefly discuss SU(∞)-QGR specific models for dark energy.