Osama has not been a significant figure for years.... the event, however, is major.
1. It allows O to take credit (I did what Bush could not).
2. It gives a reason to finally withdraw from Afghanistan.
Likely something else too...
Of course if Clinton had accepted Osama when the Sudan tried to hand him over, he'd be alive and waiting trial somewhere in the US, and 9/11 would never have happened...but we aren't supposed to talk about that because it doesn't reflect well on Bill Clinton.