People might go to a site for its content (perhaps because of high search engine ranking), even though the site could have been designed better. However, a website with a stellar design, but lackluster content really doesn't offer anything to the Internet visitor.
Basically, I think content can make up for design, but not the other way around.
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For me, site design is important up to a point. The design can help get my attention and make me think, "hey, I want to buy something from these guys!" at first, but at the end of the day I want to know what I'm buying.
Broken links, spelling/grammar mistakes, and difficult navigation can make me turn away from a company instantly.