Malachi 4: The day of punishment is coming

We read:

1-3 “Count on it: The day is coming, raging like a forest fire. All the arrogant people who do evil things will be burned up like stove wood, burned to a crisp, nothing left but scorched earth and ash—a black day. But for you, sunrise! The sun of righteousness will dawn on those who honor my name, healing radiating from its wings. You will be bursting with energy, like colts frisky and frolicking.

Many passages in Old Testament refers to the day of the Lord, a day of punishment for the arrogant and day of joy for the righteous.

The Old Testament ends with:

5-6 “But also look ahead: I’m sending Elijah the prophet to clear the way for the Big Day of God — the decisive Judgment Day! He will convince parents to look after their children and children to look up to their parents. If they refuse, I’ll come and put the land under a curse.”

Reading the New Testament, Jesus says that Elijah refers to John, the Baptist. So, we may understand that he is the one who clears the way for the Big Day of God; but did we see a day of punishment? Jesus was punished by our sins but all the arrogant people seemed to have a victory on that day; so it wasn't a day of punishment. Thus, this prophecy is uncompleted. We still hope that the day of the Lord as day of punishment, we hope for the second coming of Jesus.