Yes, I care, as a form of trust metric: For the person: it is a simplest way to see if you fit or not in this community. For the community: quickly judge if the post or comment is spam or not.
How is it possible to know whether you fit into a community by looking at your Karma, especially if you are a newbie. If you aren't a newbie then you are already participating or observing the community anyway. To illustrate another subtle point. Lets, take your karma and compare it with mine and compare mine with someone like nickb. Now what conclusions can I draw about whether I fit into this community.
I can see that you joined a year ago but didn't gain much karma. That means that you're an old timer, but a lurker, who doesn't post or comment often.
nickb and other top 10 karma users define this community and they lead by example.
I joined just recently, because I somebody posted a story about my startup and I had to comment. But since that I've been posting stuff that people care about.
All this is visible by looking at the profile of the user, without knowing exact posting history. This is huge time saver for everybody involved.