Well, thats not entirely true, but they matter less than you think! Whats more important is the quality and size of the lens and CCD on the camera.
Wired has a great article on a subject some of you may already be experiencing!
Ftfa:
When shopping for a digicam, use 3 megapixels as a baseline for Web-friendly shots and up to 5 megapixels for making your own 8 x 10s. Keep in mind that the size of each pixel should trump their overall number. That’s largely why digital single-lens-reflex cameras rule: They have comparatively gargantuan image sensors.