A.T. Robertson Commentary 1 Peter 2:7

"For you therefore that believe is the preciousness: but for such as disbelieve, The stone which the builders rejected, The same was made the head of the corner;" — 1 Peter 2:7 (ASV)

The preciousness (η τιμη). Or "the honour." Explanation of εντιμον and ου μη καταισχυνθη and only true "for you which believe" (τοις πιστευουσιν ethical dative of articular present active participle of πιστευω to believe).

But for such as disbelieve (απιστουσιν δε). Dative present active participle again of απιστεω, opposite of πιστευω (Luke 24:11).

Was made the head of the corner (εγενηθη εις κεφαλην γωνιας). This verse is from Ps 118:22 with evident allusion to Isa 28:16 (κεφαλην γωνιασ=ακρογωνιαιον). See Mt 21:42; Mr 12:10; Luke 20:17, where Jesus himself quotes Ps 118:22 and applies the rejection of the stone by the builders (ο οικοδομουντες, the experts) to the Sanhedrin's conduct toward him. Peter quoted it also (and applied it as Jesus had done) in his speech at the Beautiful Gate (Acts 4:11). Here he quotes it again to the same purpose.