The Bible is clear, Babylon the great Harlot is first century Jerusalem and its wicked leaders. Notice, Babylon is guilty of shedding the blood of the prophesy and the saints, God would judge her for this, thus vindicating his holy ones. Revelation 17:6 Then I saw that the woman was drunk with the blood of the saints and with the blood of the witnesses to Jesus. When I saw her, I was greatly astonished. Revelation: 18:20,24 Rejoice over her, heaven, and you saints, apostles, and prophets, because God has pronounced on her the judgment she passed on you…. In her was found the blood of prophets and saints, and of all those slaughtered on the earth. But, Jesus identified first century Jerusalem and its leaders as those who had killed his prophets and would kill his apostles, thus being guilty of all righteous blood shed on the earth, and he pronounced judgment on this in HIS GENERATION… Mathew 23:34-36 This is why I am sending you prophets, sages, and scribes. Some of them you will kill and crucify, and some of them you will flog in your synagogues and pursue from town to town. So all the righteous blood shed on the earth will be charged to you,fn from the blood of righteous Abel to the blood of Zechariah, son of Berechiah, whom you murdered between the sanctuary and the altar. Truly I tell you, all these things will come on this generation. Babylon of revelation REPRESENTS old covenant Jerusalem and apostate Israel who was judged and destroyed for her harlotry and murder of Christ and his saints, in AD70.
The Bible is not one thing or another but many things all at once. Revelation can be applied to the time you describe or today’s times, and that’s the beauty of it, I don’t believe either to be rightful or wrongful interpretations.