It's hardly a moot point.
If you'd ever been involved in any step of catalog production, you'd know color management is a fucking nightmare headache monster with the power to devour the weak and tired.
Let me try to give a quick example. Let's say I'm looking on my Mac's screen at an image with a Adobe RGB (1988) profile, and you are looking at the same file on your PC's screen. We each make proofs which we match to our displays, printing 2 copies when we are satisfied that they match. We then mail the 2nd copy to each other and compare each others proofs to our originals.
Problem: Will they match?
Bonus: Why or why not?