Shared ground
Peter uses a “road” image to interpret the false teachers: they have left the “straight/right” way and intentionally wandered into another path (way). The Balaam reference functions as a moral memory from Israel’s Scriptures (Numbers 22–24): Balaam is remembered here as someone who wanted profit tied to wrongdoing, and who was publicly checked.
The text’s explicit claims are that these teachers have gone astray, that they resemble Balaam in loving “wages of wrongdoing,” and that Balaam himself was rebuked—dramatically—when a donkey spoke and stopped the prophet’s “madness.” The point is not curiosity about the donkey, but exposure of greed-driven drift and the fact that it can be confronted.
Where interpretation differs
Some read “right way” mainly as correct moral conduct (living rightly), with Balaam illustrating greed that corrupts behavior. Others read “right way” mainly as faithful teaching direction (staying aligned with apostolic truth), with Balaam illustrating how money can distort what a teacher says and does.
Some also differ on how the Balaam episode functions: for some it presumes the donkey incident as straightforward history; for others, Peter’s main use is rhetorical—appealing to a well-known story to underline the seriousness of being restrained by rebuke.
Why the disagreement exists
The immediate paragraph targets teachers, so readers naturally ask whether “the right way” is chiefly about doctrine or conduct. Peter’s language blends both (a “way” can include beliefs and behavior), and the Balaam story itself involves both internal motive (profit) and outward action (going to curse, being restrained).
What this passage clearly contributes
This unit strengthens Peter’s accusation that these teachers are not merely mistaken but motivated by greedy gain (“wages of wrongdoing”). It also adds that even a “prophet” figure like Balaam could be exposed and corrected; rebuke can interrupt a headlong, self-deceived course (“madness”). In Peter’s argument, Balaam becomes a compact picture: leaving the right road + loving profit from wrongdoing + being confronted and stopped (even by unexpected means).