In Liverpool's position I'd take it very seriously. As
@Solid_Air 2 says,
they have a cup chance, not a good chance, but a chance. Winning it would be hugely prestigious and I wish them luck -
they'll need it. If I thought there was the slightest chance of City winning CL, I'd feel differently. But that would just be too unlikely. City and Pool have got us the points to get us 4 CL places in 17/18, so we could be grateful one day.