Preterist view sees this passage as a courtroom with a Judge who is Sovereign, and who pronounces those who are guilty in the next chapter. They see the phrase of “after this” as meaning it will happen right away and thus has already taken place in the first century. The 24 elders represent the worship of Christ, but are not angels or people. Rather, they are just an image made up for John to grasp His Throne. Others see the creatures and elders as angels or separate created entities that guard God (who needs no guard) and proclaim His Glory and Lordship. They also see this passage as an assault on the zodiac and astrology.
Futurist view sees this passage as the turning point from dealing with the Church to dealing with the “last days” that have not occurred as of yet. In addition, they see the phrase “after this” and “the triumphant” as referring to after the Church age and thus, since the Church is no longer mentioned much, they mostly believe the Church will not be a part of these events because it has been “raptured” (even though there is little to no scriptural support for this theory, 1 Cor 15:51-54, 1 Thess. 4:16-18, and Rev. 7:9-17; 22:16 are twisted out of their context as they ignore word meanings and other phrases used for the Church such as “redeemed” and “saints” in Rev. 5:8-9; 8:3-4; 11:18; 13:7-10; 14:3-4, 12; 15:3; 16:6; and17:6, seeing these as meaning characteristics of the church but not the church玅a big stretch away from the actual meanings for this view). The 24 elders represent the first 24 ancestors of Christ listed in Genesis 5 and 7 (this is a big stretch, reading into the text what is not there); others see them as exalted angels who serve God, and some see this as the 24 elders adhering to the Levitical orders (1 Chron. 24:4; 25:9-13) and functioning as priests. Others say they represent the redeemed. They see the seven lamps and spirits as referring to the Holy Spirit. They see the sea of glass as solid, meaning we no longer need the cleansing of the water because of Christ. The four living creatures are living entities that can represent the attributes and qualities of God, the attributes of nature, or as four portraits of Christ from the four Gospels, as King, Servant, Son of man, Son of God. However, such views are wildly speculative and not rooted in Scripture. Their function is to praise God and execute His sovereign will.
Idealist view sees this passage as a vision, depicting the entire church age. They ignore key words and context. They see the phrase “after this” as meaning “this is what I saw” (not what the words actually mean). They see these images as representative of the Ezekiel and Isaiah passages combined into one series of images of God’s purity and holiness. They see these beings as a separate class of angels or celestial representatives. The 24 elders represent the twelve patriarchs and the twelve apostles of the Church (1 Pet. 2:9; Rev. 21:12-14). They also see the seven lamps and spirits as referring to the Holy Spirit. The elders and such are to glorify God because He is Worthy and reassures the people who are being persecuted.
Historicist view sees this passage as depicting the Sovereignty of God and the privilege we have to know Him and worship Him. These images parallel the ancient courts of kings such as King Solomon, who had the lions carved on either side of his throne, as well as the Babylon and Roman emperors who had similar images on their thrones. The 24 elders represent the entirety of the Church triumphant that replaces the Jewish priests and sacrificial system with Christ as Lord. However, these angelic hosts were real beings, depicted according to our ability to comprehend. These depictions are in humanistic terms so we can get how glorious God is, far beyond any human rule. The images refer to God’s stability, preeminence, and His ability and right to govern through His rule, wit, power, intelligence, vigilance, and energy.