If you're on the designing/production end, measurements are vital.
But from the audiophile consumer side, while both measurement and listening 'matter' in a technical sense, the importance ratio is probably at most 10%/90%.
This is evidenced by the fact that probably 95%+ of satisfied audio equipment buyers have never measured a single thing or even looked at measurements and are perfectly happy. And even if they did measure things, if their ears preferred something that "measured worse", they would still go with it.
Because the point of owning audio gear is not to the own gear that measures best, it's to enjoy what you hear. And we all are perfectly capable of knowing whether we do or don't. I never did a double blind anything on M-Dave, nor laid a tester across its terminals because I love every minute of it and could care less if something else measures better. And I suspect if you tell anyone who loves the sound of their equipment that the whatever doesn't measure as well as the whatever, they'd just say "get a life".