Christ is the living Stone. People did not accept him. But God chose him. God places the highest value on him.
References for 1 Peter 2:4
You also are like living stones. As you come to him you are being built into a house for worship. There you will be holy priests. You will offer spiritual sacrifices. God will accept them because of what Jesus Christ has done.
In Scripture it says, "Look! I am placing a stone in Zion. It is a chosen and very valuable stone. It is the most important stone in the building. The one who trusts in him will never be put to shame." (Isaiah 28:16)
The stone is very valuable to you who believe. But to people who do not believe, "The stone the builders did not accept has become the most important stone of all." (Psalm 118:22)
And, "It is a stone that causes people to trip. It is a rock that makes them fall." (Isaiah 8:14) They trip and fall because they do not obey the message. That is also what God planned for them.
But God chose you to be his people. You are royal priests. You are a holy nation. You are a people who belong to God. All of this is so that you can sing his praises. He brought you out of darkness into his wonderful light.
Once you were not a people. But now you are the people of God. Once you had not received mercy. But now you have received mercy.
Dear friends, you are outsiders and strangers in this world. So I'm asking you not to give in to your sinful longings. They fight against your soul.
People who don't believe might say you are doing wrong. But lead good lives among them. Then they will see your good works. And they will give glory to God on the day he comes to judge.