We present the results of a combined study by band theory and angle resolved photoemission spectroscopy (ARPES) of the purple bronze, Li1−xMo6O17. Structural and electronic origins of its unusually robust quasi-one dimensional (quasi-1D) behavior are investigated in detail. The band structure, in a large energy window around the Fermi energy, is basically 2D and formed by three Mo t2g-like extended Wannier orbitals, each one giving rise to a 1D band running at a 120 • angle to the two others. A structural "dimerization" from c/2 to c gaps the xz and yz bands while leaving the xy bands metallic in the gap, but resonantly coupled to the gap edges and, hence, to the other directions. The resulting complex shape of the quasi-1D Fermi surface (FS), verified by our ARPES, thus depends strongly on the Fermi energy position in the gap, implying a great sensitivity to Li stoichiometry of properties dependent on the FS, such as FS nesting or superconductivity. The strong resonances prevent either a two-band tight-binding model or a related real-space ladder picture from giving a valid description of the low-energy electronic structure. We use our extended knowledge of the electronic structure to newly advocate for framing LiMo6O17 as a weak-coupling material and in that framework can rationalize both the robustness of its quasi-1D behavior and the rather large value of its Luttinger liquid (LL) exponent α. Down to a temperature of 6 K we find no evidence for a theoretically expected downward renormalization of perpendicular single particle hopping due to LL fluctuations in the quasi-1D chains.