I can easily feel dropping from 60+ to 50 and it's super distracting for me. If you get used to playing games without ever any frame drops over years it's super notice able. If I can't play a game consistently above 60fps i turn the the settings until I do and if that's not possible I simply play another game.

But it really depends on what you are playing. It doesn't feel that bad on games with a fixed camera and without a cross hair like darksouls or racing games. If it's in first person frame drops are so much worse and that's the majority of games that I play.

I'd rather play a game that's capped at 30fps than one that drops from 60+ to 50 all the time.