Egypt, like Judah, hopes in the wrong things. And through this judgment, God is not only again teaching Judah to forsake turning to allies in order to protect herself. He also uses Egypt as an example of what not to put your trust in.
vv1-4: False Religions, False Gods, Idols
vv5-10: Natural Resources
vv11-15: False Wisdom, whether man-centered, or demon-centered