Such "wisdom" does not come down from heaven but is earthly, unspiritual, of the devil.
Point number one: There is a "wisdom" that is not right. There is a "wisdom" that does not come from God, but from the Devil. This "wisdom" exists, and James seems to be making the point that it is easy to think that it is true wisdom, like the stuff we find in Proverbs, but it's NOT!
Point number two: This "wisdom" that we are putting the quotes around is a wisdom that, from the previous verse, is about selfish ambition and bitter envy. It is boasted about and in the end, the truth is denied by this kind of "wisdom."
What do we do with this? Start by being aware that not all things that can be called wisdom are true wisdom that is from God. I think that James is going to give us more in the next few verses, but start by being aware of this truth. Don't deny the truth, be aware of it.