In most variations of such a calculation the expected number of planets would be 0. The fact that the actual answer is >= 1 might suggest that the calculation is not an accurate representation of reality.

I'm not sure I'm understanding. It is a well-defined probability question to ask about the "expected number" of planets with life if there are 10^24 of them each with probability 10^-24, and the answer is 1.

Yes it will be approaching 1, the same as for 10^24 coin tosses the number of heads would be approaching 50% (or 5*(10^23)).

Given the definition of "expected value," it is identically 1 (as opposed to merely "approaching it"). Sorry, I'm not trying to be pedantic.

https://en.wikipedia.org/wiki/Expected_value

You're absolutely correct - not being a native English speaker, I read "expected value" as a common phrase, not a probability theory term. Thanks