In As You Like It, Shakespeare gives us a set piece song on love and springtime (that very pretty ring time), and when it's over, there's this exchange:

TOUCHSTONE: Truly, young gentlemen, though there was no great
matter in the ditty, yet the note was very untuneable.

First Page: You are deceived, sir: we kept time, we lost not our time.

TOUCHSTONE: By my troth, yes; I count it but time lost to hear
such a foolish song. God be wi' you; and God mend
your voices! Come, Audrey.

Exeunt.

In modern music pitch and key seem more important then tempo (at least, judging by which poor souls get made fun of in American Idol). Do these lines give us evidence that attitudes have switched in this regard?

Or (especially in multipart harmony), does "losing your time" give the effect to the listener of also losing your pitch?