Not the least bit important to me. I can do everything I care to do with 20 megabits per second or more. And I can get by with a steady and reliable 5 megabits per second.
I remember when TV was 360p and we were excited about "DVD Quality" of 480p. I think 720p looks great and anything above that is wonderful but not at all necessary for my viewing pleasure.
It's the same for me
The emphasis on bleeding edge speed is meaningless to most whether they know it or not. Are there people who "need" +500 (or even 300) mbs cellular connections, yeah, a few but not the vast majority.
The benefit of newer standards that is meaningful is really carying capacity, relieving congestion and/or allowing servicing more fixed wireless internet customers reliability (this assumes proper backhaul in tandem if course).
I'd be willing to be throttled to a consistent, reliable 20/25 mbs in exchange for a discounted plan but from what I understand this doesn't serve network management purposes because apparently they want you off the network as fast as possible during times you may be doing something (file download, torrent?) that would max out above that.
The only 5G device I consistently use is an iPhone 13 issued by my workplace. I actually don't experience much difference in download speed between 5G and LTE. My personal phone is a non-5G capable iPhone SE 2nd gen, and I'm still pretty happy with it.
The speed of 5G matters less to me than the fact that I seem to have a better signal at my home from the same carrier on a 5G device than on my previous 4G device.
However, that's going by number of bars.
In practical terms, what really matters is that I have noticed I no longer seem to get dropped calls downstairs - or while driving along the street on the last block of my way home - and given how rarely I actually talk on the phone, I'm not really sure whether that was still an issue between when my primary network changed and the upgrade to a 5G-capable device. So it could be that the network change was sufficient.