Final answer:
The statement is false; the time signature is essential in music for counting rhythms accurately and structurally organizing a piece of music.
Step-by-step explanation:
The assertion that the time signature holds little importance in musical rhythm is false. The time signature is crucial in music as it indicates how many beats are in each measure and what kind of note gets one beat. Understanding and interpreting time signatures is vital for performers to count a rhythm correctly and for composers to structure their music. For instance, a 4/4 time signature means there are four beats per measure, with the quarter note receiving one beat.
Rhythm is indeed familiar to most people as it is an integral part of music and poetry. Nursery rhymes such as 'There was an old woman who lived in a shoe' provide early exposure to rhythm through stressed and unstressed syllables, helping us internalize the meter of a piece.
In conclusion, while it may be possible to count a basic rhythm without a time signature, doing so accurately for more complex musical works requires an understanding of the time signature's role in organizing and interpreting rhythms in music.