In this context of OutdoorAg's question (comparing different models of Swarovski binoculars) it is not an arbitrary measure, although your point is relevant if you were comparing Tasco versus Swarovski as an example. If it were as arbitrary as you suggest, I do not imagine that Swarovski and Leica would reference it as prominently in their technical specs as they do (with Leica listing twilight factor immediately below exit pupil in some of its most recent literature). A more accurate analogy would be judging a car on horsepower alone and not torque, weight, vehicle performance, etc. To each their own in terms of how they care to weight the various measures of optical performance in their buying decision, but those of us who frequently hunt crepuscular animals really can benefit from the improved ability to resolve images in low light conditions. Take care.