While I understand the context of your statement and agree it is mostly right, that's not the case for ALL specialties. I don't dwell too much on any of the others but since I do know about EM, LORs matter MUCH more, followed by grades (and honors) in desired clerkship, grades in required clerkships, audition rotation with the department, graduate of a US allopathic school (damn), and THEN in 7th place is Step 1 scores (with honors in clinical clerkships only 1% lower than Step scores) so while I do agree in jist with your comment, it's not an absolute and by no means a rule.
*Add on- In fact, I was curious so I did a little looking and was a bit shocked by something. If I listed the specialties of Anestiesology, child neurology, dermatology, Emergency Medicine, Gen Surgery, Internal Medicine, Neuro Surgery, Neurology, and Orthopedic Surgery do you think you can pick out the two specialties that put the MOST emphasis on Step 1 scores (without looking of course)? I wouldn't have been able to... it's Family medicine and internal medicine, lol! Out of all those specialties (probably more, Ortho was just as far as I went on the report) only those 2 actually put more emphasis on Step 1 scores than they do LORs... ALL the rest place letters of higher value. Kinda crazy to me. In fact, of all the ones I looked at, family, IM, and OB/GYN (or any of the combined residencies that combined one of those facets such as IM/Peds) put the most emphasis on board scores but I don't think there will be any argument that those three, out of that list above, are the LEAST competitive residencies on that list. Kind of a shocking little statistic to me.