Does the photon viewID matter?

I just ran some tests by randomizing the photon view id:

photon.viewID = Random.Range(0,400);

and it sent the data over the network and applied it to the class, I was under the impression that photon views with the same ID had to be attached to the objects so it could have an id to register that instance of photonview with the other clients.

Is the Photon ViewID for specifying an object to do logic to? Does it have anything to do with the hand shake between networked objects?

Thanks!