The Sub-commentary states: 'The Well' is the name of an object's image. In ancient times, earth was hollowed out to obtain water, and jars were used to draw it up; this was called a well.
This hexagram clarifies that the noble person cultivates virtue to nourish the people, constant and unchanging from beginning to end, nourishing things without exhaustion—nothing surpasses the well in this; hence this hexagram of virtue cultivation is metaphorically named 'The Well.'
As for 'the town may be changed, but the well cannot be changed,' the following explains that the well possesses constant virtue, while this explains that the physical well is constant: though towns may be relocated, the physical well does not change; hence it is said: 'the town may be changed, but the well cannot be changed.'
The Sub-commentary states: This clarifies that the use of the well has constant virtue; drawing from it all day, none ever speaks of decrease; springs pouring in all day, none ever speaks of increase; hence: 'neither loss nor gain.'
The Sub-commentary states: This clarifies the constancy of its nature. 'Well upon well' describes a clean and pure appearance.
Those who come and go are all made clean and pure; the well does not alter its cleansing nature because of the coming and going of people; hence: 'they come and go, drinking from the well.'
The Sub-commentary states: The text below gives the admonition of the well, showing that the well's work is difficult to accomplish. 'Almost' means nearly; 'nearly' means close. 'Rope' means well-rope.
Though water is drawn up toward the well-mouth, the rope has not yet cleared the opening when the pitcher is snagged and overturned. Abandoning work on the verge of completion, though there was the labor of drawing from the well, is no different from never having drawn at all.
This illustrates that when people practice constant virtue today, they must make a good beginning and a fine end.
If there is a beginning but no end, it inevitably invites misfortune; hence: 'it almost reaches, but the rope has not yet cleared the well; breaking the pitcher brings misfortune.' Saying 'almost' expresses contingency, meaning one does not necessarily fail to finish.
Merely losing a pitcher of water—how could it be called misfortune? It serves as a metaphor for failing to accomplish virtue, or for inconstant conduct that cannot sustain caution to the end; hence misfortune is spoken of with regard to human affairs.