I guess so? To be honest I'd not heard of the festival until my band fell into the punk scene. I've never really been into punk much. Anyway, everyone else in the band was very excited and it did seem like a pretty big deal when we were there.
Also, the day after, a bandmate from another band felt the need to tell me that he'd played there years ago, and been asked back, but turned them down as they'd seen to many right-wing/fascist types there. I didn't see anything like that so I think either the festival has changed somewhat since he played, or he was just a bit jealous.