It’s needed to get into college and that’s it, which is needed to get your first maybe second job and that’s it, which is needed to…

...attendance? I landed a spot in likely the best economics uni in Poland while having 52% attendance in my final HS year, out of which perhaps 10% of the absence was due to illness.

It all depends on the country and the local rules, which can also change from year to year. Attendence didn't matter much, if at all, in my day, but right now it matters. Extremely so. Student's couldn't, until this year (when this was finally revised) even visit the school nurse without getting a "no attendance", which would count negatively with respect to the mandatory attendance requirement for advancing further. And even for receiving the common stipend.

It goes in your permanent Record Of Achievement! I was always told that this would be very a very important set of documents once I left school, and I am sure that I have no reason to doubt their statements!

Not really, but you can get in trouble for truancy if it becomes a big problem (where I'm from, that was 3 unexcused absences or any absences without a doctor's note after 10. In practice, however, this wasn't that enforced)

Many states pay school districts based on attendance.

Attendance typically correlates with classroom success.

Attendance avoids truancy proceedings.

One of the kids in my elementary school got a hat for perfect attendance through 6th grade.

I've never seen attendance shown on a transcript though, but you could fill some space on a resume with it, especially if you have the hat to show for it.

An emphasis on perfect attendance can be harmful, though, if it means students come in when they are sick and spread it to the rest of class.