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Does CPA matter for a Traffic campaign?

Short answer: not really, and here’s why
CPA measures cost per completed sale or sign-up, but Traffic campaigns aren't optimized around acquisitions, they're optimized around cheap, qualified clicks. Meta isn't filtering for people likely to buy here, it's filtering for people likely to click. The cost metric that actually matters for a Traffic campaign is CPC.
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Other metrics for a Traffic campaign
CTR CPC CPM ROAS CPA Conv. Rate Frequency
Sources

These sources break out Traffic-specific CTR, CPC, and CPM figures that agreed closely with each other. The Conversion Rate bands for this objective are a softer estimate, since Traffic-specific conversion data isn't something the industry publishes much of.