Of course, someone whose college GPA is floating between a 2.9 and 3.1 may be more likely to freak out about grades, since the difference in recruiting between a 2.999 GPA and a 3.000 GPA is considerable (the student with a 2.999 GPA gets auto-rejected by the approximately 42% (according to NACE) of employers using a 3.0 cut-off GPA as part of their resume review to select interview candidates).
Yes, that is mainly of importance for the first job. But it can be stressful if one has difficulty getting the first job when there are student loans to pay back, and if more limited offerings of first jobs limit the career development options one has.