What a contrast the psalmist draws at the spiritual level between two kinds of people in this Psalm!
The first group is blessed indeed! Spiritually speaking, they are planted by streams of water (think movement, not stagnation - emblematic of the Spirit, of life). There is no hint of shriveling or withering leaves and they produce fruit regularly. In other words, all is life in them and around them, and they are spiritually prosperous in all that they do for the Lord.
The second group has no life. Many commentators have highlighted the gradual disappearance of motion (walk, stand, sit), at the same time as a gradual increase in spiritual enmity toward God (beginning as ungodly, then casting off restraint and becoming sinners, then becoming settled in a vocal and hardened opposition to the Lord as scoffers - “seat” can also mean assembly, so you can almost see this person surrounding him- or herself with a crowd of like-minded folks, confirming each other in their hatred of God).
The one group has had their hearts changed by God so that they no longer desire to hang out with the “in-crowd” of scoffers. They now find that God speaks to them through His word! It was a dead word before, when they were spiritually dead themselves, but now it is alive and full of power and they love it! In fact, they can’t get enough of it and they meditate on it day and night. There are ups and downs, but they always return to that delightful word - that is where their hearts are now, and as they commune with their Lord in the pages of His word, they find life and strength and power to grow and produce more and more fruit!
It is God-given love for the word that alone accounts for the outward difference in the lives of these two groups. We need to make sure we are in the living, word-loving, fruitful group, and not in the group of dead scoffers! Then we will be profitable in all we do - and able to stand strong in the Lord, even when pandemics afflict our country!