A title is a hook to draw readers in. It's also the very shortest synopsis there is sometimes -- that's a type of title, the "headline" title can give the main point of your article in a few keywords so that people actively searching for it can find it easily. When I look at new Hubs, I'm not always looking by author.
I'm looking for topic and also for slant. I'm not interested in certain ideas. "A Christian View of Theology" would not interest me because I'm not Christian, but "A Multicultural View of Theology" might get me interested in seeing whether it looked at a wide variety of religions, I enjoy Comparative Religion.
So the title is very useful to an author. It's a hook that can get readers to choose your article over others in the same topic or category. If it expresses your point of view as concisely as the topic then it will draw readers who won't be disappointed.
"Welfare Fraud Burns Me Up" is a very different topic from "Welfare fraud" by itself or "Welfare Fraud is Overestimated."
Something in art instruction, one of my specialties, could be "How to draw a cat" -- and it would be a more effective title if it was "How to draw a manga cat" or "How to draw a Pokemon cat" if that's what it was. I like realistic drawing so I might skip the pokemon or manga articles in favor of the general cat drawing. "How to draw a realistic cat" would definitely get my click.
Titles are all about creating your personal niche. Once a reader likes several of your articles and enjoys your slant and style, they may well become a fan and get an email feed to see more of what they like.
All writers do have a slant. You have ideas about life, the universe and everything from what soap to use to hov the government should be run. Those ideas emerge in your writing, even someone committed to "journalistic objectivity" is expressing a very strong specific slant. Some readers will like it more than others.
Accurate titling is a good way to get and keep your core readers -- the ones who specifically like your ideas and writing style. Online, it also gets sifted for keywords. Coming up with good titles that both contain a lot of keywords and make sense to people is an art in itself, an underappreciated form of poetry.
Those are some good reasons titles are important.