This lamentation of the kings, merchants, and pilots of Babylon can be understood in two ways.
On the one hand, it may mean that, when all the glory of the world passes away on the day of judgment, only their past life will remain to the ungodly. They will say, "What profit did arrogance bring us, and what did wealth with vanity give us? All these things passed like a shadow" (Wis 5:8-9).
On the other hand, when abundance of things ceases in the present and the collapse of various nations draws near, the opportunity for enjoying carnal pleasures will be taken away. Before, it was everywhere present for satisfying the desires of corrupt men.
"When they see the smoke of her burning," that is, the sign of destruction, because smoke rises from fire. Indeed, in what else is the destruction and collapse of this world, if not in the approaching fire of Gehenna?