Yes, he is very precious to you who believe. But for those who reject him, "The stone that was rejected by the builders has now become the cornerstone."
References for 1 Peter 2:7
And the Scriptures also say, "He is the stone that makes people stumble, the rock that will make them fall." They stumble because they do not listen to God's word or obey it, and so they meet the fate that has been planned for them.
References for 1 Peter 2:8
But you are not like that, for you are a chosen people. You are a kingdom of priests, God's holy nation, his very own possession. This is so you can show others the goodness of God, for he called you out of the darkness into his wonderful light.