I doubt that any industry decisions are based solely on Coaster Buzz, but I think that Jeff is too modest in saying it has no influence.
A possible example:
Suppose your park has a Premier Ride coaster. You look at Coaster Buzz and see how much everyone loves the new restraints on Flight of Fear. You also look at other web sites and see the same. Then you call the people you know in management at PKD and PKI and ask them how things are going. Does the general public like them? Are there any mechanical issues? What impact is there on attendance? Are there any safety issues. You may also discuss things at coaster industry meetings. Then you give Premier a call and talk to them about money and technical issues for a conversion. Finally, you make a decision.
In other words, Coaster Buzz is only one small piece of the puzzle, but it quite possibly is a piece.