I think it matters if it matters to you.
Dh has a very normal name but not top 20 Everyone knows one of his names. It is still a very common name but not top 20. He was not keen on it said he would have preferred not to be Name Initial in primary (in 2ndary they used surnames)
I have a very unusual name I have never met another with my name (I am mid 40s) I liked it when I was younger and I don't mind it now either.
So dh and I wanted names that were what we deemed Unusual but not weird. So no unique spellings and no made up names.. DD1 has a name that is now in top 30... she has been to 4 schools in her time there has always been at least 2 others in her form or in the small village school in the school. She doesn't care but actually yes I do it was not what I wanted for my child and I had a long discussion with the teachers in primary to teach her to spell her name without the initial for stuff like grandparents and mothers/fathers day the teacher genuinely could not see a issue with her writing (not her name) OliviaP Well on my mothers day card I wanted Olivia not OliviaP.. Teacher was like.. but she knows it stands for her surname. .. Yes but she clearly doesn't get that is not the way to spell her name. (Before any says anything I DO know they need to difference but would it be hard for them to turn the card over and put OP or even OliviaP in pencil?) DD1 however suits her name and she likes being part of the mass so for her it has been ideal.
DD2 and DS has the perfect combination of unusual but not weird. No one bats an eyelid when they are told their names they have all heard of them. Few know another of their name. (dd2 is in 3000 and ds in about 700 from memory) DD3 has a very common in Ireland Irish name. it has been gaining popularity in the UK but still not common she is about 250 on the list..
The younger 3 all LOVE they have names no one else has. I have never met another of dd2 and dd3's name and only 1 other of DS name (and he was 36 when we moved to the area and told me our DS was the first other he had ever come across) For me that is perfect They do not have a name that makes people go " err what??" they have a name some people love others hate.. I like that DH likes that and more importantly my children like it.
DD1 likes having a name other people has too So for her it is all good too
So does it matter? Yes if it matters to you.. or " No not if it doesn't matter to you"
(I still wish DD1's name had not become that popular though)