It's not full self driving but it definitely is driving it self and providing value.

Stop coming at me with Waymo is 10 years ahead of Tesla... Ok great, are they shipping & delivering any value to paying customers? Waiting.......

In 5 years time, do you really think Waymo will have paying customers and have gained regulatory approval? Hell no...

Tesla at least realizes they can't get passed the regulatory hurdle. Keep driver at the wheel, provide a value, automate and refine.

The best thing is that as much as people want to argue on the internet about "which is better", it is somewhat inevitable they'll both succeed in their own way. Waymo will eventually crack the nut for Level 5 autonomous driving with Lidar just like Tesla will crack the nut for their full self driving (defined as driving from the east to west coast without any involuntary disengagements) with machine vision. I actually (potentially incorrectly) suspect Tesla will win this war first as they simply have a multiple of any competition when it comes to amount of driving data. How many more hundreds of millions of miles has Tesla autopilot logged compared to Waymo? Reminder: Tesla is building ~5,000-6,000 cars per week and tends to sell them pretty well. Their data moat only continues to widen. Once they figure out the right models for really pulling it off, they'll make HUGE leaps with the data they have. Some nights, my Model 3 will upload 10G of data up to Tesla. Hopefully, it is from Shadow Pilot to train the fleet.

TL;DNR: There is nothing stopping both Tesla AND Waymo from solving full self driving using competing technology and different approaches. It is an exciting time to be alive!~

I call the same thing you call it, apparently.

And if you don't mind me asking, how would you quantify in real money the value added by the system?

I wouldn't quantify the value in real money. I would say the main benefit provides is that I have much less decision fatigue and am less stressed after my commute. I also don't care how fast I really get there anymore since I just optimize for less stress, and my trip is enjoyable.

The other main value I commonly see overlooked is safety from distracted people. If we can assume people are going to keep texting and driving ( they are ), would you want them to do it while actually driving or with this system engaged?

Then you're not engaged. It's scientifically proven that your brain is no longer alert if you are not constantly engaged. And you can't be magically less stressed by decisions while being fully engaged and alert in order to verify each of those decisions. It's like saying a calculator makes you life easier because you no longer have to calculate yourself to get the result, you only have to calculate yourself to verify the result.

You're either less stressed because your mind simply offloaded tome tasks to the car contrary to the law and common sense, or you're actually engaged and your brain is doing what any driver would normally do so the whole effect is placebo. Which is cool I guess but this last one can be had for a lot less.

Driver assists are there as a backup, not to rely on them to do what you no longer feel like doing because it's too stressful. And if you feel less stressed letting a pretty dumb AI (compared to a human driver) with poorer eyesight than yours to drive you around you must be a pretty laid back person anyway.

...Then what is the point of that system?

Tesla's 'self driving' is incredibly dangerous because it puts the driver in a set of conditions that make it very difficult to maintain attention on the road. And yet the driver must be able to take over from the 'self driving' system with subsecond warning if things go awry.

That's not value adding, that's a huge risk. I would not use that system even if someone offered to install it for free in my car.

Tesla's autopilot is a marketing twist on lane keeping adaptive cruise control - a technology available in almost every car at a similar price point. It is not a step towards actual autonomy.