I work in games, so the story I tell new kids is: The PlayStation2 ran at 300Mhz and a cache miss would cost you 50 cycles. The PlayStation3 ran at 3200Mhz and a cache miss would cost you 500 cycles. So, if you are cache missing a lot, your PS3 game will run as if it were on a PS2.
In other words, not paying attention to cache make your computer run like it's 10 years older than it is. You paid for a modern machine, but you are getting the results of a Craigslist junker. This is true outside of games. It's the reason 4x2Ghz cellphones struggle to run seemingly simple apps. It's a big part of the reason people struggle to orchestrate armies of servers (distributed computing is easier when it's 90% less distributed).
Is it really harder to work with the cache system instead of ignoring it? Yeah, it requires a tiny bit of study an a little bit of planning. In contrast, the theme I see a lot online is to completely dismiss physical reality in favor or theory. And, the theme I see almost universally in the students (and many senior engineers) I interview is complete ignorance of the very existence of cache and it's effects on the code they write. It's very concerning...