The implication of my post wasn't "therefore encryption is worthless". It was more of "therefore I would like more relevant historical analogs".

How about this one: the invention of the concept of a written contract with authenticating signatures and seals, allowing business to take place. (Together with a legal system for enforcing contracts.) Courts and documents themselves don't produce tangible value.

Insurance doesn't product value, but it protects. It has monetary value, demonstrated by the fact that people make premium payments to maintain it. Many never collect a dime over the life of an insurance term.

All kinds of infrastructure is an indirect example.