I see your point, and while I agree that digital media should cost far less than the physical media due to lack of materials, crafting, storage, and shipping, I don't think it's fair to say it's worthless.
As an environmentalist, I'm happy with digital media in that it does not consume resources to produce discs, does not create waste in wrapping or packing materials, it does not need to sit in a warehouse or shop that could otherwise be devoted to natural land, and it does not need to be shipped and thus contribute to carbon emissions.
Also, it doesn't take up more room in my already jam-packed game collection.
As I said before, I think it should be priced lower than the physical equivalent, and to be honest I almost never buy digital media unless it's on sale for a steep discount. I do see what you're saying, but the media holds some value, if only for supporting the developers of a game that you enjoy.