Diomedes, expert in war cries, killed Axylus, / son of Teuthras, a rich man, from well-built Arisbe. / People really loved him, for he lived beside a road / and welcomed all passers-by into his home. / But not one of those men he’d entertained now stood / in front of him, protecting him from wretched death.

Importance
This is an example of the Greek state of mind. Diomedes is continuing his relentless assault on the Trojan army and is killing people know for their good looks, popularity, and high rank. He is showing his lack of value in earthly pleasures because he does not respect his victims' place in their own society. This battle scene is a little long winded, but Homer keeps the reader interested by describing the Trojans' lives before they were killed at the hands of Diomedes. This personality that Home injects into the scene makes the victims more rounded characters instead of just flatly "evil" like one would expect.

Analysis
The phrasing of this quote, especially the last two lines, seems almost sarcastic, which maybe shows Homer's own views on the huge parties that the ancients were known for throwing. Even the Achaeans, with whom we're supposed to sympathize, did not spare an expense for the entertainment of their guests, but Homer's tone shows so much disdain that it cannot be ignored. He is making a comment on the uselessness of fairweather or superficial friends, because although they will come to your parties and drink your wine and bring you gifts, they are meaningless because they would not come to your side when you are about to die.