Well, "warning" != "error". It means you should be doing whatever you're doing consciously and, where applicable, have some fallback for when it has a negative effect (JavaScript?) or just admit that it's a use case you're not concerned with. If it is a use case you're concerned about and you don't have a fallback, then you probably should fix it.
E.g., if you either don't care if vision impaired people cannot enlarge it in some browsers/devices, or perhaps deal with small screens with similar issues, then leave it alone. If you want to make sure anyone with a reason to enlarge the screen can do so in any situation, then change/fix it.
But yeah, warnings and maybe even some errors will not necessarily prevent a web page from "working", and if you do HTML and CSS validation on many/most popular sites you'll most likely find lots of warnings and maybe some errors; so it becomes a question of what is "good enough" for "enough users" in any given business case -- and can also be a result of web developers everywhere who don't know/care/check that stuff. (shrug)