1)
Why does it say "Ki Yom
1.
Radak: This explains "v'Nisgav [Hashem Levado]" (11). On that day, every elevated one will be lowered, for all will recognize His kingship.
2)
Why does it mention "Kol Ga'eh va'Ram" and "Kol Nisa"?
1.
Malbim: The former have a reason (attribute) for their pride. The latter are lowly, just they are haughty in their hearts.