But you are a chosen people, a royal priesthood, a holy nation, a people belonging to God, that you may declare the praises of him who called you out of darkness into his wonderful light.To be a chosen people, a royal priesthood, a holy nation, and a people belonging to God... These were things that once belonged only to the Jews. They were these things. Now we may participate.
As an American, I get to some extent the idea of being a "people". Having that sense of belonging. And America has been a part of something big. Freedom, liberty, duty, etc. We have been a people, but this citizenship is corrupted. America is fallible. There is another "nation" that I am a part of. Paul describes it as "a citizenship in heaven" in the book of Philippians.
The outpouring of this citizenship should result in praise. He have no right be be a part of this. We were in darkness, but He has brought us into the light, and it was not because of any merit of our own.
Declare praise to Him for what He has done.