Very much depends on the modifier, though. Like in Baldur's Gate 3 they do crit fails/successes which is what made me think of this. But say my character is a level 20 wizard with an essentially superhuman mastery of Arcana. So a bonus of +12 to arcana and is presented with a rune that needs to be identified:

Under the crit fail/success system, this genius Archmagus with a knowledge of Arcana in the same ballpark as Mystra herself has a 5% chance of not knowing what the fuck that rune does instead of whatever small percentage rolling a minimum of 13 would get you on that particular skill challenege. If this dude rolled the lowest he can roll, it is and should still be treated as pretty damn good.

And it's ultimately up to the DM, of course, but RAW matters too

in 2e, its a pretty big difference. A failed stealth check bumps down your stealth status to "Hidden" (What was that noise? Who's footprints are these? etc.), while a crit fail makes you full on "observed" (Tony Tony Chopper style.)

The Assurance: Stealth feat is the lynchpin in many a clunky fighter's exploration kit, since it will pretty much never critically fail, giving them time to hide somewhere or get help from a sneakier friend.

Isn't that usually a Session 0 agreement? If the campaign uses crit fails, then yes.

Also: best mechanic I've heard of for crit fails is the player describing the failure. They're going to come up with something better 90% of the time.

Sort of since what the DM says ultimately goes, but no - a crit fail means your effort just fails no matter what. Now, it may also mean that your acrobatics check ends in you slipping on a banana peel and breaking your back, but it doesn't have to be dramatic.

So, crit fail means that no matter how skilled you are, you have a 5% chance of failing anything you attempt (without advantage, lucky, etc. anyway)