In the simplest sense, a mower blade spins on a vertical axis on the bottom of the mowing deck. The blade is typically sharpened halfway up each side on opposing ends, with the sharp edge facing down to cut with the least resistance.
The most significant reason for having the rear of the deck slightly higher than the front is to prevent the mower from clogging. This way, the front of the mower will always be where the cutting takes place, and the mulched clippings will be ejected out the back of the mower, or bagged, if applicable. This becomes particularly important in the case of wet grass, which will easily clog a mower. In this situation, it may be beneficial to actually adjust the height of the deck manually and create more drastic back to front decline to give the clumps of wet grass more room to exit the blade.
Mowing on a regular basis with the deck at an extreme angle can be detrimental to the long-term performance of the blade, as it will wear the sharpened edge unevenly. If the mower must regularly cut wet or exceptionally tall grass, this may be unavoidable, and will simply require more frequent blade sharpening or replacement.
The exact degree of slope on the mowing deck is not the same for all yards and mowing conditions, so individual conditions will dictate what adjustments need to be made. Even a slight angle will always outperform a completely flat deck, and will lead to fewer cases of mower stalls and clogs.