For me, the value of the verified checkmark was that it verified people and organizations were who they said they were.
This was a big part of what made Twitter such a unique and fascinating place. You could learn a huge amount about the world from tweets that were attached to verified identities.
Plus it was really fun. This tweet by Monica Lewinsky really wouldn't have landed without that verified mark! https://twitter.com/MonicaLewinsky/status/115034806144255180...
Unfortunately, Musk apparently had the same cynical opinion of this that you have, and threw the entire thing away. No wonder Twitter has less cultural impact today than it did a year ago.