It's saying that God's moral law has lost its validity. We as Christians must live a holy life by conforming ourselves to God's moral law. That is what it means to receive Jesus Christ as Lord. Sin is disobedience to God. And salvation cannot be the same as disobedience to God.
Salvation has to be the opposite of sin.
And so we have to say that the Scripture in its entirety, in the Old Testament as well as the New Testament, teaches us that sanctification is necessary, and that without holiness no one will see the Lord. Now let us consider the method of sanctification. The method is one of cooperation. You see, in justification God alone justifies you. In regeneration God alone regenerates you.