I would rather win a trophy.
The reality is that Liverpool are not the favourites in any of the competitions that they're still in. Putting in a slightly more serious effort against Wolverhampton wouldn't guarantee a trophy either, but I'd rather have an extra chance at one before we go home empty handed again. Rather finish 2nd than win a trophy? Nah. That stuff is fun, but in the end going deep in the FA Cup isn't going to make or break our season either way, and losing in a CL final is exciting but there's no runner-up trophy.
Also Fabinho has been getting better. He certainly hasn't been 'excellent' on the whole. He's had his ups and downs; sometimes he still seems to play too slowly or get a little lost, but he's definitely getting there. I wouldn't hold this game against him as the whole team looked disjointed and he was playing out of position.