It's not at the exclusion of other more important issues...
But it is an interesting piece of Romney's personal history. He could have actually used his apology as a call for an end to bullying of gay students, but he is too much of a coward, too afraid of the uncompromising nuts of the far right to do that. What do you expect from a man who has absolutely no convictions?
If something like this came up about Obama the right wing nuts would be saying he was a gang leader! It would have serious political consequences for the president.