I am not the grandparent author, but I think your last paragraph describes it well.

Yes looking back Freud's theories are bogus. However, that is only looking back and taking in consideration what has happened after. However, whatever happened after in the theory of how mind and human psychology was very much influenced by Freud. A lot of it was a reaction but it was still a reaction to something. Those that came after studied Freud and it was their background.

To say it another way, it hard to predict what would have happened if Freud was not there. We could have been in a worse shape maybe today.