The “Lucas critique” became the rallying cry for those young turks intent on destroying the consensus. Defenders of the consensus argued that users of macroeconometric models were already aware of the problem Lucas defined so forcefully, that the models were nonetheless informative if used with care and judgement, and that the Lucas critique was right in principle but not important in practice. These defenses were not heeded.

According to the paragraph above:

Item 3 - The central point of the text is that, despite the flaws pointed out by lucas, macroeconometric models can still be used as long as it is done with care and judgement.