Studies in hamartiology are helpful in better grasping the nature of Sheol.
Any proper study of hell will discern the meanings of Sheol, Hades, Lake of Fire, Paradise, Abraham's Bosom, Tarturus or the Torments, the Pit, the grave, the dead vs the living, the ressurection, with linkages to sin, condemnation, salvation, and heaven.
It might be noted that the Lake of Fire was created for the fallen angels, and later those who are declared PONEROS, or 'good for nothingness will also be cast there. This will lead to a study of the nature of good and evil.
It has been said that the issue of sin has already been resolved on the Cross. Today, sin may be resolved in an instant, simply by confessing one's sin and turning away from disobedience to His will and returning to focusing upon Him. Repentence is simply turning away from a wrong course by turning to Him. Confession is an act of man who exercises faith in Truth over something separate from His will. All the judgment is His and all the payment for sin is His, we simply turn back to Him in simple faith.
Whereas the issues of sin have been resolved for all eternity, the issues of good and evil have not been resolved in a fashion such as Christ dying on the Cross. Good and Evil must be resolved in time.
It should be noted that those who perform good works, independent of faith through Christ, simply are performing works which are good for NOTHING at the final judgment.
If one is seeking to understand what the desciptions of hell imply, it probably has just as much significance for the many millions of people who are intending well and good, but still are acting independently of faith through Him.
Heaven and hell have far less to do with morality than they do with simple faith through Him.
The worldly system was extensively studied by the Greeks. KOSMOS, or the World, is a system of creating order out of CHAOS. The most intricate wordly systems are created by those seeking to avoid faith through Him at all costs, and those intricate systems in many cases are the most legalistic, ordered, and appealing systems to the old sin nature. This doesn't mean all order is evil, rather that the ordering of things independent of God is part of Satan's counterfeit plan to create a false paradise. It will end in the Lake of Fire, a place for those things good for nothingness.