Covenants are important to bitcoin for many reasons. The short version is that they make many common processes in bitcoin more efficient, allows for Vaults and helps scale throughput on L2 and self-custody on L1.

I highly recommend the 2 articles below:

Why bitcoin needs covenants: https://blog.casa.io/why-bitcoin-needs-covenants/ How CTV can help scale bitcoin: https://bitcoinmagazine.com/technical/how-ctv-can-help-scale-bitcoin

And if you're a developer please voice your opinion here: https://en.bitcoin.it/wiki/Covenants_support