What is the significance of the fool sitting in the high place?
Rashi: This is the evil that is like a mistake of the officer (5). Folly and evil are elevated. Hashem elevates fools and Resha'im; I see with Ru'ach ha'Kodesh that they will stretch their hand against His Heichal - "Samu Osasam Osos" (Tehilim 74:4).
Ibn Ezra #1: Some say that it is as if Sechel is written with a Sin (intellect). It is proper that intellectuals sit in a high place, and Ashirim oppositely 1 .
Ibn Ezra #2: Sechel is an adjective, like "Yeled" (4:13) and "Helech" (Shmuel II, 12:4).
Rashbam, Rid: He becomes a rich, esteemed officer.
Rid: The kingship was given to a fool who destroys countries.
Metzudas David: He was put in a high place not proper for him. Metzudas Tziyon - Sechel is a Kesil.
Ibn Ezra: This is correct. However, it is not connected to the previous verse nor the coming verse.
Why does it say "[ba'Meromim] Rabim"?
Ibn Ezra, Metzudas David: They are great [high places].
What is the significance of the Ashir sitting in the low place?
Rashi: Yisrael - all the grandeur and honor that they have now, in my days, later they will sit in the low place - "Yashvu la'Aretz Yidmu" (Eichah 2:10).
Ibn Ezra: Ashirim have an attribute in the world - "Ashir b'Rashim Yimshol" (Mishlei 22:7), and they will sit at the bottom.
Rashbam, Rid: He becomes poor and lowly.
Rid: Because the kingship was given to a fool, Ashirim lost their wealth.
Metzudas David: He was put in a low place not proper for him. This looks like a mistake (5), but this is not so.