A final declaration seals the fate of those who do evil, announcing their absolute downfall. Although their collapse is described as an event that has already happened, the primary approach among commentators is that this is a prophecy. Their ruin is a future certainty, destined to occur. The exact setting of this defeat is understood in a few different ways. Some view it as a physical location, specifically the very spot where the wicked planned to harm the righteous. Before they can ever carry out their schemes, they will collapse right in their tracks [אבן עזרא, מצודת דוד, רד״ק]. Alternatively, this setting points back to a historical place where evildoers met their end in ancient times, serving as a guarantee that the wicked of today will share the exact same fate [אבן עזרא]. Others explain this not as a physical place, but as a specific dimension of time, referring to the exact, destined moment when their ruin will strike [אבן עזרא, מאירי].
Taking a more spiritual approach, the setting of their defeat is placed entirely beyond this physical life. The wicked may seem to thrive in this earthly existence, but their true downfall awaits them in the presence of God. In that higher realm, they will simply melt away and collapse from the sheer power of His light [ביאור שטיינזלץ]. This ultimate reckoning takes place in the World to Come, the eternal realm of divine justice [מלבי״ם, מאירי]. It is only in that elevated state that they will finally grasp the full, devastating meaning of their own ruin [רש״י].
When their judgment arrives, these criminals will be forcefully pushed down and rejected [ביאור שטיינזלץ]. What makes this collapse unique is its absolute finality. A righteous person might stumble and get back up, and a normal failure in this world can often be overcome. For the wicked, however, this is a fall from which they can never recover. Their punishment is eternal, absolute, and completely without hope [רד״ק, מלבי״ם, מאירי, מצודת דוד].