The honest ranking for most people: variable refresh working properly, then panel response, then refresh rate. A 240 Hz panel fed 110 frames per second with VRR active looks better than a 480 Hz panel fed the same 110 frames without it, because the alternative to VRR is either tearing or a frame-time hitch every time the pipeline misses a deadline.
And the frame rate has to exist. Past about 240 Hz you are buying headroom for esports titles at low settings, which is a real use case and a narrow one. Of the 84 monitors here, 32 run at 240 Hz or more and 15 stop at 60, with 25 of the rest sitting between 144 and 180 — which is a reasonable map of where the value is.