Carragher says Arsenal and his old side showed why they were two of the most entertaining teams in England, but that their defensive frailties will lead to a continued lack of silverware with both teams now undergoing long league droughts.
Liverpool manager Jurgen Klopp started with the "fab four" of Philippe Coutinho, Mo Salah, Firmino and Sadio Mane, and two of the elite group conjured Liverpool's 26th minute opener when James Milner sent Salah clear down the right flank.
Manchester City lead the points table with 55 points in 19 games followed by Manchester United (41), Chelsea (39), Liverpool (35) and Arsenal (34). Klopp has joined Antonio Conte, Mauricio Pochettino and José Mourinho in accepting his team will not be crowned 2017-18 champions but remains wholeheartedly optimistic about their long-term prospects.
"We know our situation", Klopp said.
Jamie Carragher believes that while Arsenal and Liverpool's 3-3 draw was a great advert for the Premier League, their defensive problems will lead to a lack of silverware.
The result means fourth placed Liverpool remain one point above fifth placed Arsenal after the Christmas schedule got off to a cracker in North London. "A lot of players in this squad are young enough to learn and that is what they will do, 100%".
Alexis Sanchez looked his age and uninterested in proceedings - needing nearly four to five touches to get the ball under control while many a Gunner fan at the Emirates would have been wondering why the powerful and experienced Saed Kolasinac was benched for 20-year-old Ainsley Maitland-Niles. Arsenal did just that, scoring three goals in under five minutes before Liverpool answered to draw level.
"Third one, misjudgement - too deep, no offside, we let them go in the box and make it too easy. We have to take the good things and work on the lesser good things".
We demand more Friday night lights at the Emirates.