They do read bug reports, because the various developers occasionally comment, assign themselves to bugs, fix the bugs, and mark them fixed. However, there are over 2000 open reports, and over 40000 total reports on the tracker. Most of which are garbage, either because they're duplicates, incomprehensible, or not actually bugs. It's a lot of work to sift through it all looking for valid issues to address. And despite how many employees Mojang now has, very few of them are actively developing Minecraft. Something like 5, now that [Mojang] Mog (Ryan Holtz) and [Mojang] Searge (Michael Stoyke) have joined the team.
The vote count also figures into putting priority on fixing bugs. This one is also obviously not an issue for many people, as there are only two votes (one of them's mine!), and zero duplicate reports. The thing is, no matter how quick and easy it would be to fix something, there's still hundreds, if not thousands, of other things all demanding the same time and attention. Fixing this would mean something else gets put off, even if it's only by 5 minutes. With so many people filing reports, some of them are bound to be put off, no matter how fast they work.
Also consider that fixes based on decompiled code are useless to the Mojang developers, because it's nothing like the actual source code. I'm kind of surprised this bug survived the big code review, however.