It does get you something, though: the service of ARIN telling everyone that you "own" those addresses. Lying to someone so that they will perform a service for you is fraud even if you're not receiving any property. If you're running your own closed-off private network you can use whatever addresses you want, and I would agree with you that IPv4 addresses, as such, are not property. However, if you're connecting to the public Internet then your peers are going to care about whether the address ranges you claim were officially assigned to you by ARIN.