React matters because it allows developers to build user interfaces (UIs) using JavaScript by treating the UI as a function of application state. React introduces several key concepts and features that make it useful for building UIs, including treating the UI as a pure function of state, one-way data flow that promotes predictability, and tools for optimizing re-renders through shouldComponentUpdate and immutable data structures. Overall, React provides an effective way to build UIs that can update efficiently as state changes.