I don't typically care about title, but it does matter a bit when you are talking to others outside your company (or even inside of its big enough)

I recall giving talks where I was principal on important projects, but my title didn't reflect that so during chats after the presentation I had people ask who I was and I didn't really feel satisfied with the answer I was giving. I could tell I was being undersold just by my title. Is that their mistake? Kinda, but they're acting on the info they had available and to their read, I was not principal so someone else must have been the one who architected the project.

Of course those clued in, other devs or experienced management could tell by the talk that I lead the technical side. As much as I love just building stuff, getting my career dues would be nice.