Sure it does. It adds context of winning and losing games.
If you look in the MLB standings in the morning paper during the summer, you might notice that the standings are listed in order of winning percentage (which is determined by wins and losses), and not in order of FIP, WHIP, ERA+, or any other advanced statistic.
Weird, huh? Don't they know it's 2012, and that wins and losses is an outdated mode of evaluation?