I think you missed Masterjohn's point.
Cholesterol might not matter, but we can't say for sure. Elevated LDL may indicate poor LDL receptor activity. If that's the case, LDL remains in the blood longer, increasing the chance of oxidation. Oxidized LDL is definitely bad.
Masterjohn's point is that elevated cholesterol may be a sign of something amiss, or it may be noise. It's worth checking out, though. Might be a sign of hypothyroid, as thyroid hormone increases LDL receptor activity.
If one is still losing weight, elevated cholesterol doesn't tell you much. After weight loss has slowed or you're at a target weight, recheck.