I'm probably missing something very obvious, but I don't seem to understand in what cases does the AUC (area under the curve) actually matter.
From what I gather, AUC is basically using a range of possible thresholds and then averaging them, differently from for example F1 that always uses a threshold of 0.5.
I get that using 0.5 might not be optimal, but why don't we just choose the best possible threshold and use that for the performance, instead of averaging it with "bad thresholds" in AUC? Why should we care about the thresholds that don't work well and weigh them in?