You're not ********.
As long as manufacturers continue to sell watts as a key metric of performance people will ask similar questions to yours and be similarly confused.
More watts MAY mean more output, but watts are really a metric of measuring heat dissipation. The majority of the watts in any given system are given off as heat. In the case of our bass rigs, that's straight wasted energy (unless it's a cold outdoor gig and you're sitting on your amp; then bring on the watts baby, my buns are cold

)
Good, useful specs to look for in choosing a loudspeaker product (bass cabs included) are sensitivity, impedance, continuous power handling (taken with a grain of salt) and frequency response. If you can get a maximum continuous applied voltage spec that's a lot more useful than a power spec, but that's still not a standard specification on loudspeakers. Heck take them all with a grain of salt; there's a lot of specsmanship out there. But those basic specs will get you to a reasonable understanding of what a loudspeaker may be capable of.
You'll need an amplifier to drive the loudspeaker, so some specs to look for in a good amplifier are frequency response, input sensitivity (how much input voltage do I need to get full output voltage), minimum allowable load impedance, maximum continuous output power and a few others that are useful, but not critical (again a maximum continuous output voltage would be more useful than the power spec, but it's not always easy to come by).
All we want our amplifier to do is take the small signal we put into it and make it big enough to drive the loudspeaker(s) we plug into it. If the amp clips and we can't get it loud enough, then we may need a larger amplifier, but we shouldn't drive it into clipping indefinitely. If the amplifier overpowers the loudspeaker and causes it to make "pop" or "crack" sounds we may need a smaller amplifer or to turn it down. If it's not loud enough we may need another loudspeaker or one big enough to take more voltage input.
If we want to change the tone or contour of our sound, then we will likely need a preamp of some kind. Some active basses are capable of driving a power amplifier directly, but most passive basses simply won't have enough output voltage to drive the input of a power amp directly. Also the input of most power amps would load a passive bass output down too much and ruin the sound of the instrument; much like plugging that passive acoustic guitar into a channel on your sound board - sounds like poop. The preamp gets us some tone control and enough output voltage to drive a power amp to full output voltage - which in turn will drive a loudspeaker to the desired volume.
billfitzmaurice's answer is the short answer; this one has been much longer, but I hope it's helpful to someone...
Jeremy J