The meaning of this verse is that God takes pleasure in those who have reverence and awe for Him, who fear and honor Him. It highlights the idea that God is pleased with those who place their trust and hope in His steadfast and unwavering love. This verse reflects the importance of having a reverent and faithful relationship with God, acknowledging His sovereignty and relying on His unfailing love. It encourages believers to have a deep respect for God, to trust in His love and faithfulness, and to find comfort and security in that relationship.