"In His City, and as His City, they will ever rejoice, not only in the hour of their Salvation—their own, personal Rescue from the Domain of Darkness—, but also in the subsequent Faithfulness of God, who, through Christ, by the Spirit, Led them Safely through the deadly wilderness of “this present evil age,”
"and into
The Promised Land of The New Heavens and the New Earth
(John 6:38-40; Galatians 1:4; Philippians 1:6; Revelation 12:7-17, 19:11).
"Our first mini-snapshot (vv. 6-8) points to a radical transformation of the physical Heavens, a transformation that the NT says will occur at “the Restoration of all things,” when Christ Returns (Matthew 19:28; Acts 3:21; Romans 8:21; Philippians 3:21)...The result, for God’s people, will be something altogether new: a ‘Day” that is neither day nor night as we once knew them, but an Eternal Day whose exact nature is known only to the LORD.
"Happily, the NT sheds further light on this mysterious promise, teaching us that it is Christ Himself who will “diminish” the luminaries at his Parousia (2 Peter 3:10; Revelation 6:13); that in the World to Come, the Glory of God and the Lamb will illumine all things, both inwardly and outwardly (Revelation 21:11, 23, 22:5); and that this “unique” eschatological Day will stand as a perpetual testimony and reminder: Because of Christ, the Domain of Darkness has passed away once and for all (Romans 13:12)."
"Verse 8 reprises the great OT theme of the eschatological River of God (Psalms 46:4, 65:9; Ezekiel 47:1-12; Joel 3:18). The Living Waters are, of course, the Very Life of the Living God, Streaming into the New Creation from God the Father, through Christ the Son, by the Holy Spirit (Acts 2:33; Philippians 1:19). Interestingly, the prophet sees them flowing out of (New) Jerusalem; that is, out of the Churches, the Eternal people of God (Revelation 21:2). He also sees that the river will flow both east and west, filling the seas on either side of the City, both in summer and in winter (i.e., year-round). However, Revelation 21:1 tells us there will be no seas in the World to Come; meanwhile, Zechariah 14:6-7 (along with several texts in the Revelation) assures us there will be no seasons."
"The meaning, then, is figurative and theological: In that Day, the Life of God will continually replenish the Creation of God through the people of God (see Romans 8:20-23)."
Importantly, verse 4 is not telling us that Christ will literally stand upon the Mount of Olives; or that He will literally split it apart to create a literal valley.
"Similarly, verse 5 is not predicting that literal Jews of a physical Jerusalem will flee to the tiny village of Azel.
"Those who take this approach are falling into confusion by abandoning the NCH, which teaches us to interpret this prophecy figuratively, in terms of NT truth."
Yes, as you ask, The New Jerusalem.
"Here, I believe, is the key to understanding this Prophecy, a Prophecy designed to comfort devout OT saints with a picture of the Eternal Worship of the Glorified Churches, cast in the language and imagery of Israel’s most joyful OT Feast!
How exactly does this work? To begin with, we learn that Zechariah’s eschatological Feast of Booths will indeed be a Harvest Feast, since there, in the World to Come, all the saints will have been gathered in at last (Matthew 13:30; John 4:38; Revelation 14:14-16). Formerly, they were indeed enemies of God and His people; but Christ, prior to the Judgment, Harvested them through the Gospel and turned them into Eternal friends (Matthew 9:37; Acts 26:17-18; Romans 5:8; 1 Timothy 1:12-12; Titus 3:3f).
"It will also be an Everlasting Feast: The saints will forever “go up” in Worship, through Christ, unto God their King (1 Peter 2:5; Revelation 7:9-10, 14:1-4).
"In His City, and as His City, they will ever rejoice, not only in the hour of their Salvation—their own, personal Rescue from the Domain of Darkness—, but also in the subsequent Faithfulness of God, who, through Christ, by the Spirit, Led them Safely through the deadly wilderness of “this present evil age,”
"and into The Promised Land of The New Heavens and the New Earth
(John 6:38-40; Galatians 1:4; Philippians 1:6; Revelation 12:7-17, 19:11).
But what of Egypt, and of the families of the Earth that follow Egypt’s lead in refusing to go up? Clearly, these typify all men and nations who refused to participate in the eschatological exodus; who refused to accept Spiritual Rescue from the Domain of Darkness, and Spiritual transfer into The Kingdom of God’s Beloved Son (Colossians 1:13); who refused to follow in the footsteps of Moses, who considered the reproach that fell upon Christ to be greater riches than all the treasures of Egypt (i.e., the fallen world-system); and who refused to walk with Christ through the wilderness of this world to The Promised Land (Hebrews 11:26; Revelation 12:1f).
"Puzzlingly, in the Prophecy, we see these rebellious nations in the Earth, but far from Zion and Jerusalem, where the friends of God celebrate the Feasts of God. But in the Revelation, the puzzle is solved:
"In The World to Come, where the prophecy is fulfilled, we once again see these nations far from Jerusalem—outside the gates of the Holy City— , but this time in the Lake of Fire (Isaiah 66:24; Revelation 20:14, 22:15).
"It is, therefore, in death (and hell) that the impenitent enemies of God will experience the very plague of drought they chose for themselves in life, when they refused to drink of the Rock, and to follow the Rock, that God offered them in the Gospel.
"And that Rock is Christ (Matthew 12:43 NAS, Luke 16:24; John 7:37; 1 Corinthians 10:4; Revelation 21:6, 22:17)."