For competitive games yes it does a lot. For casual AAA Sunday gaming it might not. If I remember correctly 1ms decreases ghosting a lot better at higher frame rates so that you won't see trails of objects. I believe 4ms is ok but if you want a crisp and smooth image 1ms is better (idk if it's 70$ worth tho).

Is 5ms response time good for gaming?

5ms: Response Time. Response refers to the length of time a given monitor or panel needs to change the properties of each pixel. ... Therefore, the GtG response time of 5ms and under is good for gaming. However, what enthusiasts really want is 1ms due to its faster responses.

Does response time really matter Reddit?

Response time is purely a marketing term that has insignificant effects in the real world due to modern monitors have acceptable response times anyways. There are other factors that are more important when buying a monitor. For more info, check out the monitor buying guide in the r/buildapc wiki.