I suppose they matter in as much as your posts will appear in their feed. I rarely look at new, trending or hot posts now. There is just too much spam and non-relevant content. I prefer browsing my feed which is where my followers will see my posts.
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Well yes, but if you are following 10000 people , I double you will be able to see even 1/3 of the posts. But yeah sadly promoted posts are not really always useful!
Ah but most people don't have that many that they are following, so it's your followers that are important because they WILL see your posts. I have 550 now and I regularly see yours in my feed as not that many people post regularly. So having more followers is definitely a good thing for post exposure. ;)