WPF matters so much for archery, to the point that my archer build is stupidly dedicated: 18/27 (level 32) with 6 PD, 9 WM, 2 ath (I had 0 ath until lvl 32) ==> which results in 182 WPF for archery.
What does that get me? Near pinpoint accuracy across the map. I am accurate within the size of somebody's head at 300 yards with the longbow. I am even more accurate with the weaker bows, literally the arrows follow the identical path each shot. Robin hood status.
Every little bonus to wpf adds up. Every subtraction adds up.
Proof of the value of accurate archery: Note how the kills were headshots (more than half of the 18 were headshots // with the last two in the screen being headshots) Highest score, highest kills, carrying server. THIS WAS WITH 0 ATHLETICS AND LONGBOW (which takes 5ever to re-draw). Rus bow is better for sure in performance for that reason.
Point being: with in-game accuracy (from wpf, etc) and a bit of practice, you can make every shot you fire hit ~Somebody~ for damage. But no matter how good you are, if your bow is inaccurate you're going to miss a lot.
ALSO WPF INCREASES ARCHERY DAMAGE BY A LOT. MY 18/27 ARCHER DOES COMPARABLE DAMAGE TO A 30/15 ARCHER [though recent changes have made 30/15 do more damage nowadays, 18/27 is still more effective due to accuracy and fire rate]