As much as the swim is smaller in terms of time, at least for the pros, the time gaps are reasonably close in terms of what constitutes a good swim vs a good run.

The last male to win without making the front pack swim was 2014 (Sebastian Kienle) and the last time someone had a decent chance to do so was 2017 (Lionel Sanders in 2nd).

If you're a pro and you want to win, you need to swim well.

(On the women's side, there isn't yet the same dynamic)