With an eccentricity width value of 0.34mm, even if there is no inherent wow and flutter (speed error) produced by the turntable in use, it reaches around 0.15% (WTD RMS) on the innermost grooves of the records playing surface. In reality, the average speed error value of even the highest quality turntables is around 0.008%. These factors combined can result in an overall wow and flutter value 20 times worse than that of the turntable in isolation.
Put simply, when using even the finest quality turntables available, the overall wow and flutter of the entire system cannot be significantly reduced unless the eccentricity of the record is corrected. In order to faithfully reproduce the source material it is imperative to reduce the record eccentricity as much as possible.
Excessive wow and flutter presents two problems. The first is that the unstable rotation causes fluctuations in pitch across the frequency range. The second is that if the record eccentricity is not corrected, the cartridge and tonearm will be forced to sway from side to side as they follow the groove. This impairs the stylus ability to accurately track the groove and results in a muddy sound and an unstable sonic image.
As a result, the full potential of even the highest quality systems will not be realized by the listener. Correcting this eccentricity as much as possible allows you to unlock far more of the potential performance of your equipment.