"The path of Allah," meaning: the way of Allah. "Is it not to Allah that all matters return?" meaning: the affairs of all creation.
﴿صِرَاطِ اللَّهِ﴾ طَرِيق الله ﴿أَلَا إِلَى اللَّهِ تَصِيرُ الأُمُورُ﴾ يَعْنِي: أُمُور الْخَلَائق.