I don't think HOME ALONE 3 is really deserving of the hate it receives, though I can understand why people don't like it: for one thing, it was made during John Hughes' lighthearted and silly period, and another, it lacked the original cast from the first two. But, let's be honest, Mac Culkin would have been too old to do another movie, and I don't think the other castmembers would have had their hearts in it... I think Hughes made the right decision to focus on another cast of characters without trying to recast Kevin, Harry, and Marv (which is one of the reasons why HOME ALONE 4 failed, Danny Stern was even approached about reprising Marv, which he felt was a travesty to the original movies, and flatout refused). HOME ALONE 5 tried that approach, so I gave it a chance, but I couldn't make it past the first three minutes, the acting from everybody was terrible.
Interestingly enough, Hughes' original draft for HOME ALONE 3 was to have Harry and Marv change their ways, move to the suburbs and start new lives for themselves and their families, while Kevin apparently busts out of jail and hunts them down to exact his revenge.