It's like a certificate of authenticity. If you buy a nice watch which comes with a piece of paper saying that Rolex made it, what's actually worth money here? The watch is worth the money, provided you can prove that it was made by Rolex and not a knockoff. Is the certificate of authenticity itself worth money? Ehh... sort of... but only if you have the watch its authenticating. Who would buy the piece of paper alone?

What about if i can make infinite identical copies of the watch? Things stop making sense once there is no scarcity.