One of the hardest things for a Christian to do is sort through the smorgasbord of "philosophies" and "theories" of christianity, and as Sheldon from TBBT would say, find the "toad of truth", or as yogrynch would say, "burp out the element of truth."
One of the discussions various members of our family is having concerns the contentious issue of "covenants" - how many were there, how many are presently active. The burp of truth is this: There is, always has been, always will be only ONE covenant - the covenant of grace.
One need look no further than the Old Testament to discover this truth. Before ever a living human walked the earth a promise was made, by God Himself, to Himself, and is the grandest expression of GRACE that has ever been uttered. Simple in its elegance, profound in its implication, unyielding in its application, it is found in Genesis. Chapter 1. Verse 26. 'Then God said, “Let us make man in our image, after our likeness. And let them have dominion over the fish of the sea and over the birds of the heavens and over the livestock and over all the earth and over every creeping thing that creeps on the earth.”'
Of no other element of creation was this said. You and I, as humans (redeemed or not) live as testaments to this - we ALL are image bearers of God - created in His image and bearing His likeness. Oh, understand this GRACE! Yes, some fail to grasp this truth. Yes, some will endure everlasting punishment because of this rejection. Yes, some will experience the unlimited mercies and grace of God in perpetuity.