Why is it important?
1) A clear, correct, and consistent definition and understanding of the roles Iswara in Advaita Vedanta is necessary for the study of ultimate goal of self-knowledge.
2) To remove the possibility of conflating Iswara with Atma. [Iswara =/ Atma or Brahman]
3) To remove the possibility of conflating Iswara realization with Self-realization.