The case can be thrown out, but it's still going to cause you massive disruptions. Everything from just being arrested in the first place and being held in custody for some amount of time, to having to hire a lawyer, to the social consequences of your name being tied to being arrested. It's going to cost you time, money, stress, family and social relationships. And there's a non-zero chance that if your life starts being investigated after such an arrest, something could be found to still affect you or your family and friends.
And once you're on their radar, you're probably going to also end up being marked for extra scrutiny. You might find yourself being pulled over more often, or getting the SSSS on your airplane boarding pass.
“You can beat the rap, but you can’t beat the ride.”
or you know, more false bullshit leads to way more people talking about it, and less stigma about it