There is more to the fall of Babylon than the deposing of a proud king (vv. 3–11, 16–21) or the destroying of a great city (vv. 22–23). Behind the evil Babylonian system was Lucifer (“Day Star”), the enemy of God (vv. 12–15). As God taunts the king of Babylon, He also speaks to Satan who motivated and energized him.
It appears that Lucifer was an angel who rebelled against God and wanted to take to himself the worship that belonged only to God. “I will be like the Most High” (v. 14) is the ambition of the evil one and the temptation he puts before man (Gen. 3:5). The world today worships and serves “the creature rather than the Creator” (Rom. 1:25). Man is his own god; in worshiping and serving only himself, he plays right into the hands of the evil one.
The Christian’s ambition is to be like Jesus Christ in all things, “conformed to the image of His Son” (Rom. 8:29). Contrast Isaiah 14:12–15 with Philippians 2:1–11 if you want to see the difference between Satan’s approach and our Lord’s approach.