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Well, the Minkowski pseudometric is describing special-relativistic spacetime, and all high-precision tests about the validity of special relativity show that it is a very good spacetime model underlying all physical phenomena except gravity, for which you have to extent the spacetime model to a Lorentzian differentiable manifold, and also there this fundamental bilinear form plays the same role for local phenomena. The specific signature (3,1) (which is the east-coast convention; equivalently you can use (1,3), the west-coast convention) particularly enables to establish a causality structure for these spacetime models.