We still build great things, but today they're functional: skyscrapers, for instance. They're not really the most efficient type of building, but they are functional. And modern buildings are not devoid of ornamentation or signs of beauty, we just don't find gargoyles to be fashionable any more.
Edit: I see your point now, that medieval churches had other functions besides the religious stuff. Still, I see those things as only secondary functions to the buildings; museums and concert halls have those things as their primary functions and are optimized for them. I've been in medieval churches, and there's very little artwork in them, relative to their size, compared to any decent art museum. But I agree, they were a lot more functional for the people of the time than the pyramids.
[1] In fact the burial aspect might even have been a secondary one.
Even if medieval churches had no purpose other than to construct an impressive structure, that isn't something we ought to deem unworthy. Greatness is a fine goal in its own right.
After all, art museums and concert halls overwhelmingly display the things that people find impressive. The things that people don't find impressive don't stand the test of time.
Utilitarian function is certainly a great virtue, but it is not the only virtue.
From that perspective they are not particularly less practical than modern museums or most other public buildings.
The Egyptian pyramids lacked all of this.
Offtopic, but I love that I read this as "we keep them around for one hundreds to one thousands of years".
And yet we admire them and keep them around for 100s or 1000s of years, because of their greatness. The same for the pyramids. Of course, the effort served a function as well: to establish and maintain a power structure, to give people whose lives hung on strings far more often than ours do a sense of safety and hope.
Man needs greatness. A glimpse of the divine. Our civilization has lost this, and the hyperfunctionalism has taken over our cities. We have removed even ornament and other signs of beauty from our buildings. And it has made them worse.
But these trends come in waves. 50 years from now and we might again spend extra money on whatever will be the equivalent of neogothic or classicist buildings.
And I‘m looking forward to it.