> when the qubit is measured (read queried) it will return a value of 0 or 1 with equal probability

To clarify, qubits don't necessarily have equal probabilities of |0> and |1>. If the probabilities were always equal, we wouldn't be able to use quantum computers for anything besides generating coin flips! The "answer" from a quantum computer is encoded as output probabilities of the qubits, which are found by running the calculations a bunch of times and counting the frequency of each |0> and |1> state.