I think nihilism provides value in the same way that "rock bottom" does for an alcoholic. On a practical basis my life is mostly habit, obligation and pre-framed viewpoints that I accept unreflectively for entirely pragmatic reasons.
Which is fine, otherwise you spend a lot of time wondering what a table is, why do anything, etc, but stripping back your beliefs to as close to nothing as you can is an experience worth going through at least once in your life - there's no way to viscerally understand axioms except to think about why they are there, and why they can't be different.
Yes, nihilism can prompt personal crisis or even suicide. But the experience is fundamental even if we don't name it, so the idea provides utility to society because it gives us a vocabulary and a framework for processing the experience of rejecting and understanding meaning itself. You can't have true agency without understanding that meaning itself is a construct. A culture which recognises crisis of meaning is a deeper culture than one which perhaps recognises that some situations are "sad" or that sometimes things are tactically difficult ,or that some people might have conflicting interests (looking at you Disney).
Personally I think nihilism is a key stage in moral development "for people who think real hard about stuff". Yes, everyone doing this at the same time would have bad outcomes.
The (shared) social utility of nihilism is a kind of "looking in the eyes" of people who are experiencing the absurdity of life, seeing through the words and looking at what is there. The currency of the idea promotes an acceptance of that and therefore I believe that a vigorous society should embrace the experience of nihilism for those people that are ready for it.