It is extremely important if and only if the team can embrace. It will not have a huge impact on technical knowlege- an if-statement is an if-statement no matter who writes it. However, it makes a huge difference on ideas-inflow and innovation (which Software developers play a big part aside from the BA, business stakeholders etc). The typical development team consist of white males; which is not bad but limits the "human factor"-effect. Bring in African-Americans, women, foreigners and others and you get a fresh inflow of ideas. For example, a male may develop an app whose UI tells you how to use it and just that. Pretty straight-forward. A female may suggest the app tries to hit emotions and be "cute"- like create a button to make the screen red when angry and green after you just got paid. Others bring in ideas too based on their background. This is not a great example but it shows you how different the human-factors can make a difference in products- which in turn can promote innovation, bring in new ideas and blood and make development fun. Think about this. If you need to develop a video game for girls, do you stack the development team (developers, BA, business stakeholders etc) with all men? Yet, it is fair to say that most apps are developed by white males who may not be in tuned to women, Chinese (largest internet population) and other common software users.
On the down-side it only works if the team as a whole embrace it. People downgrading women ideas, not trying to quickly sink culture-clashes and not taking things personal, people not giving others the benefit of the doubt, people insisting things be done as they were see fit all the time ... and others can make diversity horrible.
All in all, I think diversity is great. On the flip side it bring challenges and it is not work it if everyone does not work towards it.
P/S
By the way, I do not agree that diversity is just for customizing product for a specific market. If you need to do that just hire a consultant or have the dev team in the area play with the code for a while to "beautify it". For example, Microsoft can develop Windows 7 in USA for American English speakers and have it's dev team in Mexico create a Spanish language version. This is not diversity because the team in USA and team in Mexico are not close together or in a tight-knit working together or anything like that. Diversity is when you work together, go to meetings together, have to make decisions together and a whole lot of things related to work; together.