I would like to answer the question of the title : Definition of the Gibbs Free Energy and its interpretation.
The free energy is a concept created by Gibbs in the $19$th century. At that times Gibbs was trying to apply in chemistry the concepts developed in physics and mechanics for spontaneous phenomena. In physics, a spontaneous process happen each time an object has the possibility to fall from a high position to a lower position. And never the contrary. An object cannot spontaneously pass from a lower position to a higher level.
This is related to the concept of potential energy. Each object has a mechanical potential energy $mgh$ which depends on its level $h$ measured above an arbitrary reference level. This reference level which may be the level of the sea (in which case $h$ is called altitude). But, main result for Gibbs is that $mgh$ is a mechanical potential energy. This energy has the property that when an object with a high mechanical potential energy has the possibility to go to a lower level, the transformation is spontaneous. The passage from a low level to a higher level is never spontaneous. Never !
Gibbs was looking to find a potential energy valid for chemistry. For a while he thought that the enthalpy $\ce{H}$ was this potential energy, because in nearly all spontaneous chemical reactions, heat is emitted. So that the molecules pass spontaneously from an initially high $\ce{H}$level to an lower one, and the difference is emitted as heat. This is usually right. But it is not valid for endothermic reactions, which are also spontaneous. So enthalpy is not the energy that Gibbs was looking for. What was the potential energy that Gibbs was looking for, so that in all cases, it decreases in spontaneous processes ?
It is not heat content. Another way of looking at this problem is to say : What is the potential energy that is liberated in all chemical reactions, that is in endo- or exothermic reactions ?
For Gibbs, this strange and new potential energy, called "free energy", is the electrical energy liberated in galvanic cells. Galvanic cells are working by chemical reactions. And the galvanic cell is producing spontaneously electrical energy, whatever the endothermic or exothermic character of the internal chemical reaction. A cell will always produce electricity spontaneously, never the contrary. The chemical reaction may be endo- or exothermic, it must be exoergic. A galvanic cell cannot absorb electrical energy : it would be a non-sense.
So, for Gibbs, all reactants in a cell possess an initially high free enthalpy $G$ ($G$ for Gibbs). And, when spontaneously working, the cell emits an electrical energy Delta $G$ as non-pV work, equal to : Delta $G = - zEF$, where $z$ is the number of electrons liberated in the chemical equation of the cell, $E$ is the tension of the cell, and $F$ is the Faraday (= $96500$ $Cb$).
After this definition, Gibbs decided to behave like the chemists in calorimetry. Using all known galvanic cells, he measured their $E$ values and calculated the corresponding values of free enthalpy of formation of all compounds found in cells. These values are published in tables, like the enthalpies of formation.