What is PCI Express? Do PCIe lanes, slots, and versions matter?

What is PCI Express? Do PCIe lanes, slots, and versions matter? pcie x1 in x16 slot
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pcie slot function It is important to note that PCIe slots are not backwards-compatible, meaning that a PCIe x16 device cannot be used in a PCIe x1 slot, for example However

pcie x1 slot function Most recent PC's motherboards have PCIe slots just for PCIe cards to be installed in the corresponding PCIe slot PCIe cards: x1, x4, x8, x16, The number of lanes that a PCIe device supports is typically expressed like “x4” for 4 lanes, “x8” for 8 lanes, and so on x1, x2, x4, x8, x16 PCIe Gen 3