Why does it say "ha'Nosenim Rozenim l'Ayin"?
Radak: They are haughty about their grandeur and trust in their strength and armies. Rozenim are officers and great people, like "v'Rozenim Nosedu Yachdav" (Tehilim 2:2).
Radak (21): Hashem shows that He is Master of the world - He makes poor and rich, lowers and raises.
Malbim: Rozenim are Batel to Him, for He is unlimited Chachmah, and does not need their counsel. Rozenim are officers of counsel. A human king has limited Chachmah, so he needs Rozenim.
What is the meaning of "[Shofetei Aretz] ka'Tohu Asah"?
Radak: This is like "v'Natah Aleha Kav Sohu" (34:11). Destruction is not truly an action.
Malbim: Shofetei Aretz are appointed over Mishpat. A human king cannot judge [everything] himself, so he needs Shoftim; Hashem does not need them.