WHat are the issues with the simcard problem? topic

I understand there is no official Lollipop release for the Sprint LG G3 which is why we're getting the No Sim Card error. Can someone tell me what the impact is to the device and whether this is anything to concerned with? So far I'm able to send/receive text and MMS as well as make/receive phone calls. I've been googling around a bit and have seen the sim acrd issue mentioned but I really can't find any explanation as to hat the impact is.