Voice acting is an important part of many games. I think you're underestimating its benefit. All this post basically amounts to is asking us if we think voice acting is as unimportant as you do, and I simply do not. If you're looking at video games from the perspective of "It's a game, not a story, and if they do less on story and acting we get more game," I can see where you're coming from, but I think that perspective is also a horrible, anti-progressive way to look at the medium. From the perspective of one who respects and loves video games as an art form, voice acting should be no less a priority than other areas of the game, as should any other part of the design. It's all important, and should all be given focus.
Voice acting lends immersion to a game; not in a complex way, but in a simple one. Especially now that we have such advanced graphics, it's simply weird to see a character moving or talking, but needing to read the text and hearing no words. It's beneficial from an artistic perspective, and as such is very important to the medium. Not to all games, of course, but in no way should we undervalue it.