Context
In Malachi 1, this section should be read within the flow of the chapter and the larger movement of Malachi.
Common Interpretations
Malachi 1:11 became a major proof text in later sacrificial readings of the Lord's Supper, especially once Eucharistic theology was recast in altar-priest-sacrifice terms. That later application carries serious consequences because it shifts the direction of atonement from God's once-for-all provision in Christ toward an ongoing offering made by man back to God.
Current Position
This site's current position is that Malachi 1 is a condemnation of corrupted priestly worship, not a foundation for reintroducing sacrificial categories into the new-covenant gathering. The chapter exposes contempt for God's name through defiled offerings. For that reason, using Malachi 1:11 to support an ongoing sacrificial offering in Christian worship presses the text in the wrong direction. The once-for-all sufficiency of Christ governs the church's worship, not a revived altar system.