Shared ground
This passage contrasts two kinds of security. On one side, the Lord announces that he himself “lays” a tested, precious foundation stone in Zion (v.16). Trust in that foundation is described as producing steadiness under pressure—“not be in haste” (v.16).
On the other side, the leaders’ claimed safety is exposed as unstable: their “refuge” is built on lies (v.17), and their supposed protection—pictured as a “covenant with death” and an “agreement with Sheol”—will not hold when judgment arrives (v.18). God’s standard is not their rhetoric or strategy, but “justice” and “righteousness” (v.17). When that standard is applied, their shelter is swept away.
Where interpretation differs
Who/what is the “stone.” Some read the stone primarily as something in Isaiah’s immediate setting: God’s established base for Zion/Jerusalem and his reliable plan for his people, in contrast to political schemes. Others read the stone as ultimately pointing beyond Isaiah’s day to a singular representative through whom God secures his people. Both readings agree the stone is God-provided, tested, and meant to be trusted.
What “not be in haste” means. Many take it as “not panic” or “not make frantic, faithless moves” when crisis hits. Others emphasize “not be put to shame” or “not have to flee,” since haste can describe a forced retreat. The shared idea is that trust leads to stability rather than collapse.
Whether “covenant with death” is metaphor or a specific policy. Some hear it as a metaphor for false confidence in general—spin, denial, and self-protective stories. Others think it likely targets a concrete diplomatic plan that promised safety (a deal they treated as though it could neutralize death itself). Either way, the text says that supposed protection is real enough to be “annulled” by God (v.18).
Why the disagreement exists
Isaiah uses dense images (stone, measuring line, hail/flood, Sheol) that work at more than one level: they describe God’s judgment on real-world leadership decisions, but they also portray deeper spiritual realities about what can or cannot bear weight. The wording in v.16 (“believes… not be in haste”) also allows more than one plain-English rendering.
What this passage clearly contributes
Explicitly, the text claims: God provides a stable foundation in Zion; trust in it prevents frantic collapse (v.16). God measures human security by justice and righteousness, and false refuges fail under that measure (v.17). The “covenant with death” will not stand; judgment comes repeatedly and relentlessly (vv.18–19). The “bed” and “blanket” images clarify that their arrangements cannot actually deliver rest or protection (v.20). God’s coming action is compared to earlier acts of decisive intervention, and it is called “strange” because it is a sobering work of judgment against those who presumed they were secure (vv.21–22).