THX is designed to ensure that what you hear in your home theater is as close to what the sound engineer heard when mixing the soundtrack as is possible.
That doesn't mean that you can't have a good home theater without THX equipment. But there is a certain comfort in knowing that your system is optimized to reproduce the soundtrack as it was intended to be heard, through a very precise set of specifications. THX certified equipment has a better chance of achieving that, in my opinion, given that it has to meet very close tollerances for frequency response deviation, dynamic range, input and output voltage, distortion levels, crosstalk, etc., etc.
So, to me, it's not an absolute requirement, and I wouldn't make it my only determining factor in a purchase, but I would give the nod to THX certified equipment if I was looking at two pieces that otherwise were relatively equal.