Like any market item it only has what value anyone is willing to pay for it.

It’s an interesting concept from a proof of ownership standpoint, same way you can ’own’ a piece of crypto by holding a specific key.

Of any practical use though, say someone wanted to put the deed to a house as an owned token, the adoption across jurisdictions, the costs to maintain this ledger, the risk of electronic theft that simply doesn’t exist with paper records, it all makes real use more complicated than it needs to be.