Oh, it's a huge connection. When I first encountered it in my very early twenties in a list of a whole bunch of "joke" laws, I just chuckled at it, but now over 20 years later I understand it to be one of the important things for someone trying to move into the architect/principal contributor/whatever your organization calls the top level of engineer to understand.

It isn't quite a 100% constraint, but you better pick your violations of Conway's law very carefully.

Usually you have to take the design of your system from the company's organization. I still haven't quite managed to pull off the "successfully convince the company to reorganize because some technical thing they want requires it". And, I mean, obviously I don't treat that as a terminal goal in and of itself. But I do sorta hope to see it at some point. (We have at least had serious conversations about variations on that theme.)