Isaiah 14:12 and the "Morning Star"

The following is from the NET notes:

The Hebrew text has הֵילֵל בֶּן־שָׁחַר (helel ben-shakhar, “Helel son of Shachar”), which is probably a name for the morning star (Venus) or the crescent moon. See HALOT 245 s.v. הֵילֵל.

What is the background for the imagery in vv. 12–15? This whole section (vv. 4b–21) is directed to the king of Babylon, who is clearly depicted as a human ruler. Other kings of the earth address him in vv. 9ff., he is called “the man” in v. 16, and, according to vv. 19–20, he possesses a physical body. Nevertheless the language of vv. 12–15 has led some to see a dual referent in the taunt song. These verses, which appear to be spoken by other pagan kings to a pagan king (cf. vv. 9–11), contain several titles and motifs that resemble those of Canaanite mythology, including references to Helel son of Shachar, the stars of El, the mountain of assembly, the recesses of Zaphon, and the divine title Most High. Apparently these verses allude to a mythological story about a minor god (Helel son of Shachar) who tried to take over Zaphon, the mountain of the gods. His attempted coup failed and he was hurled down to the underworld. The king of Babylon is taunted for having similar unrealized delusions of grandeur. Some Christians have seen an allusion to the fall of Satan here, but this seems contextually unwarranted (see J. Martin, “Isaiah,” BKCOT, 1061).