Oh, but it is... oh yes, it is...

Try to survive outside of Meadows without food. If you manage that, you have my nod of approval.

Edit: Ok, I think I need to explain this in more detail:
1. You cannot die of thirst and hunger.
2. That said, food is your most important asset in this game, as your health and stamina is solely dependent on it. Armor helps for sure, but is secondary.
3. No food, you're dead in anything but Meadows, maybe Black Forest.
4. There's three different types of food, to underscore the importance of food in Valheim.
-a) Health food, which gives a lot of boost to health, and very little to stamina.
-b) Mix food, which gives a middling boost to both.
-c) Stamina food, which gives a... ahem... healthy boost to stamina.
5. You need health to survive and heal yourself. More health, more chances for survival. Simple.
6. You need stamina to fight, block and run. And build. And jump. And swim... Did I forget fight? Anyway. You want it.
7. Food helps you to heal. As there is no natural heal.