In my opinion, the Shahab-3 is basically non-important, but our country hates to just "scrap" working products. If it works and it still has a use, we will keep it in reserves. In other countries, predominantly western countries, even products made in the 90s, where most militaries would find useful today are scraped and discontinued. An item like the Shahab-3 with it's design and engine can literally last 50-100 years in a vacuum sealed bag without any maintenance costs. The warhead can be replaced with a cluster warhead and find itself quite useful in this regard, of course you can also use it for indiscriminate city bombing if it came to that.
Could potentially be useful as a decoy as well, to saturate / fool ABM systems.
Shahab-3 belongs to 1998-2015 era, it's no longer even in production AFAIK. The last variants had a range of around 1750km with a c. 500kg payload but with terrible precision (early models had CEP likely in excess of 1km).
And later Shahab-3 designs (Shahab-3B / -3C with triconic warhead) had much improved CEP's, of up to around 150 meters if I remember correctly an estimate put forth by PeeD in an article back then at the ACIG website, under 500 meters at any rate. These were already in a different category than the original Scud missile and good enough to represent a game changer of sorts, compounded by the fact that Iran had inaugurated mass production lines (I recall Shamkhan during an interview with IRIB at that time stating in reference to BM's, "mesle noqlo nabat tolid mikonim").
In particular they enabled Iran to generate a credible threat against USA airbases in the region as well as against certain critical infrastructures in Occupied Palestine, which contributed to deterring military aggression during the Bush jr. years. During that period Iran held a wargame in which a sketch of the Bagram airbase (Afghanistan) had been drawn onto the ground. It was successfully hit by multiple incoming ballistic missiles. Footage was aired on national television and served as proof that Iran can strike every American base in the surroundings.
Of course Iran's current BM inventory is yet again on a completely different level, capable practically of pin-point precision strikes among other feats (greater survivability thanks to hardened underground missile cities, diversified launch platforms, maneuvering separable RV's and higher speeds for increased performance against anti-missile shields, not to mention sheer numbers which skyrocketed since the early 2000's etc).