Yet in like manner these people also, relying on their dreams, defile the flesh, reject authority, and blaspheme the glorious ones.
MacArthur's sermon here
Honestly, I found this verse hard. It's kind of awkward when a single verse is taken alone. Not because it's wrong to consider a verse alone, but because it's hard for my human mind to do so.
So far, throughout Jude, we are seeing the warnings against defying God, turning our backs on Him and His ways, and this verse is no different. While we are clothed in grace, and forgiven through Christ, there are serious consequences to willfully choosing to ignore God.
The consequences are even more dire for those who claim the name of Christ, yet are liars and deceivers.
I honestly can't even say anymore, MacArthur's sermon is excellent reading on this.