In addition to post-season awards (which might matter to some), I think it matters in auto subs, too. I had a bad recruiting time and got two terrible players I don't play - a SG and SF.
So I listed 2 PGs and 2 SGs and 2 SFs on the depth chart because I wanted them to split time fairly evenly. For the first two, their positions were the same as listed but the back-up SF was actually listed as a PG. 1 PG fouled out (Freshman in Press) and the back-up SF got pulled over to back-up PG since that was what he was listed as. That happened even though he was the worst ball-handler out of all the other PG/SG/SF. Of course, I just fixed this by adding a third back-up, but I think that's the only other time it matters.