Gartner: How is it actually perceived in industry?

As as tech banker, Gartner is mostly used as convenient filler in the industry section of your management presentations and PIBs. I'm curious as to how it is actually viewed in industry (relative to other industry analysts), as it seems many tech companies have frequent correspondence with Gartner analysts and take their rankings extremely seriously.

Are customers actually ignoring software vendors because they fell in their Magic Quadrant last year? Are investors using the latest Hype Cycles to change the verticals they're pursuing? Or is Gartner simply just used as general industry report providers?

I ask because they seem significantly better regarded than other industry analysts in software

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