I believe what you're referring to is typography; the arrangement of the typeface (font), size, line lengths, line-spacing, and letter-spacing etc in relation to the page space available.

As a collector of books from publishers that either have a history, or are still printed, by letterpress where exacting typographic standards are necessary to the overall broader aesthetic of the book; I do find it does very much matter. I have bought the odd mass printed edition over the years that have had awful typography; especially some packed story collections where the publisher tries to jam as much into the pages to save on spending money on splitting them into separate volumes thus making the entire text block jammed and claustrophobic that pushes right up the page edges with barely any margins for the text to "breath." An overall awful reading experience.