Sean,
I do think there are golfers (and probably raters as subset of those population) that look at golf courses as a collection of holes. For that group, the routing really isn't that critical. For most that participate here and certainly all those that value walking, routing is exceedingly important. However, just the fact that there is that discrepancy is noteworthy because I don't believe it existed 50 years ago. That's been discussed before, however.
I think routing actually can and should be considered in three categories, although only two that count currently:
MEMORABILITY
How well do the design features (tees, fairways, greens, hazards, vegetation and terrain) provide individuality to each hole, yet a collective continuity to the entire 18? I think the collective continuity includes routing, especially if holes feel like they don't belong.
AMBIENCE
How well does the overall feel and atmosphere of the course reflect or uphold the traditional values of the game? If you consider that the traditional values of the game include routing a course and walking it then I think that's a reasonable inclusion.
The third is walkability for obvious reasons.
However, I still don't think its the job of raters to determine whether the routing is the best use of the land, or whether it could have better, etc. It really comes down to what is there and what quality it merits.