Good question!
Not to me. I find most speakers with "flat response" to sound boring. My Gallo Acoustics Ref. 3 speakers had reasonably flat frequency response but could not track dynamic swings well. I should say they did this like most (all) conventional multi-ways I've heard.
Then, I built some homemade Fostex BR boxes that had a response curve that would look like the Himilayas. They didn't do some music at all (rock), but with jazz and vocals they were utterly captivating. Fast as hell and the tiniest nuances lost on most speakers were utterly clear.
My current speakers (Zu Definitions) are very efficient, have no XO elements from 40 hz to 12 khz, and are hugely dynamic. And, they're reasonably flat in their response (subjective, not measured).
Both elements are important (as are many others). But, for me flat response isn't nearly as important as dynamic punch. Certainly no response graph can guarantee a good-sounding speaker.