That is for sure an interesting scripture. I'm going to have to dwell on it some more.
If that verse is talking about our salvation or the final state of the believer, then it seems to me it's saying we're saved (kept saved)
by works - which IMO, cannot be. Paul talked about that elsewhere, when he addressed beginning by grace then attempting to continue by Law (works). He said we can't count on that, and he called that having fallen from grace, i.e., not trusting in Christ's full atonement, but in our own abilities to perform. Seems to me we can't be saved by grace then kept by doing the right works/not doing the wrong works.
So some questions I toss out; is it about something such as position and rewards? I.e., having to do with "few stripes or many stripes"? And then further, can a spiritually reborn son still have to face even 1 stripe "on the other side"? More specifically, will absolutely everyone still have some cleansing to be done after resurrection, and if everyone's going to get purged post-death, then where does that place the idea of being spiritually re-born in the first place? Isn't such a doctrine just saying 'some are just a little better off than the rest, but all still have the purging fire to face the other side of the grave anyway'?
I believe the ecclesia are spiritually reborn now, and God ensures their perseverance. Grace not works. Position and rewards are a matter of obedience, yielding our will to Him and "following Him closely" rather than being disobedient re-born sons. And I believe disobedient re-born sons are treated as family - disciplined by Father to maintain closeness, rather than being tossed out as a bastard child.
So this Hebrews verse, standing alone obviously doesn't fit with the many other verses that IMO, support the above position. So it makes me curious about the context, how it reconciles with so many others that say it's not about our efforts but about
His calling, electing, ensuring/completing. Also, the word "destruction" is used, which many (I) believe has to do with destruction of works not of God, those that cannot stand the basanizo (testing for purity), not being "unsaved". (Two things I found so far, part of that text is a quote from Habakkuk, and at least a piece of it has also s/w inexplicably been translated from the Septuagint. I'm not smart enough to know what all that means

, but it does stick out as perhaps important. Also, "for yet in a very little while, He who is coming will come" sounds interesting. A little while? When was Hebrews written? Prior to 70 AD, or after?