The Blood of the Son of God is precious to the sons of God. In context "precious" simply means that the children of the living God love the Blood of Christ, depend upon the blood of Christ, and esteem the blood of Christ above all things. Therefore we do not seek to remove the Blood from our view, but rather seek to see the application of the Blood to everything. The true believer will not tolerate a bloodless religion. Were it not for the blood of tile Lamb of God there would be no Redemption, Atonement, Reconciliation, Justification, Sanctification, forgiveness of sin, and therefore no acceptance for us with God. Were it not for the Sacrificial Blood of Christ as our Substitute God could not be just in putting our sin, AND WOULD NOT PUT AWAY OUR SIN! Were it not for the Blood there couhi be no peace with God or peace in our hearts. Were it not for the Blood there would be no Gospel (Good News) for sinners. Apart from the blood of Christ all God has for the sinner is wrath and condemnation. It is only when God sees "the blood" that He will pass over those to whom the Blood has been applied.