Cables matter just as much as every other component. This is very easy and obvious to demonstrate and prove. This does however require a fair amount of time and effort. Many find it a whole lot easier to opine than discover and learn. I know for a fact that when I upgraded speaker cables to Synergistic CTS that was almost as big as upgrading my phono stage from ARC PH3SE to Herron VTPH2A. Considering the used cables cost half the new Herron I'd say that's pretty good evidence cables are equally essential components. I have lots more examples like this. Ask the ones who think they don't matter how many comparisons they have done like this. I have yet to meet one who gave it any serious attention without coming away convinced of the value of good wire.
The big problem with cables is as with every other component the vast majority aren't all that good. Instead of being good across the board they have all kinds of glaring faults, largely in terms of emphasizing one area of response over another. This is how they get the reputation of being expensive tone controls. An awful lot of them that's all they are. This is true for way more brands and at way higher price points than anyone cares to admit. Its true whether they admit it or not.
All this by the way is equally true for all other components. Or maybe you noticed all the speakers you heard were equally perfectly tonally balanced, and sounded all the same, and all got incrementally perfectly better as you went up in price. All the amps too. And CD, cartridges, etc. I rather doubt it. I would bet money you noticed all these components had a rather nasty habit of sounding pretty bad in one area or another, and so you bought the ones that didn't sound that way and instead sounded pretty good to you.
Well, its exactly the same with cables. Except for whatever reason people think its cool and acceptable to dump on cables as if they're different. When there is in fact no evidence whatsoever they are any different. They're not. They're just as important, make just as much difference, are just as hard to find the good ones, and are worth the effort just as much too.
Now as for how much to spend that is one you will just have to figure out for yourself. If you are smart and listen to some Synergistic odds are you will start to understand why they are worth a lot more than you thought.