You're being needlessly dismissive of what "publishing papers" mean. Writing down what you learn is what papers are for, and the only papers that count for a PhD are those which are accepted by reference journals, which impose a relatively high bar on what content they accept.
So you still need to explore uncharted areas, and your main output is still writing down what you found for others to build upon. Those are the deliverables. For the person doing the PhD, the primary benefit is developing research skills, such as independente and self-reliance.