Theologians (a.k.a. debaters) love to go around on the nature of Christ’s work on the cross. Two common views are that 1) His sacrifice was substitutionary or 2) His sacrifice was exemplary. Which is it?
Without a substitution we could not have salvation. We needed someone to pay our penalty, to do what we couldn’t, so that we could be freed from the punishment due our unrighteousness. “Christ also suffered once for sins, the righteous for the unrighteous” (1 Peter 3:18). “God put forward [His Son] as a propitiation by His blood to be received by faith so that we could be forgiven” (Romans 3:25).
Of course, that doesn’t mean that His death is not also an example. It isn’t only an example, as some liberals say, but it is an example. In fact, the willing sacrifice of Christ on behalf of others is the example. The love and patience and endurance of His suffering is glorious because it wasn’t for Himself, it was for others. His sacrifice provides both a propitiation and a pattern.
The Lord’s Table is a moving indicative, a message we receive by faith and a model we emulate by faith. By faith we give glory for Christ’s sacrifice for us. By faith we live glory as we give our lives for others.