We are conflating different terms. You're saying "value" but meaning something different than the market value of something. Value is a measure. It's quantitative not qualitative.

When someone says "this thing is valued at $5" it means someone traded or is willing to trade $5 for that thing. It doesn't have anything to do with what you can use that thing for.

Yes, water is "valuable" as something to drink. That has little to do with what someone paid for some water.