Virtual items do have monetary value, and have for a substantial number of years now. People have been paying real dollars to buy WoW gold for well over a decade, and I assume in games before that.
People value what people value, it sounds dumb because it is so obvious, except people forget it all the time. Something you think is worthless (I assume WoW gold, and Fortnite skins) someone on earth would like to have, and they want it more then they want dollars. It may not make much sense to you, but I’m sure someone wants “a thing” in WoW enough to decide that grinding in parts of the game they don’t find fun is worth trading $5 to get what they want instead of a late at Starbucks. You might think the Latte is worth $5 and a ton of WoW gold is absolutely not, and when it is your $5 your opinion counts, it is basically a fact at the point. If it is someone else’s $5 your opinion is worth less then a warm bucket of spit, and their opinion becomes “basically” fact. That is the cool thing about money it is worth what a buyer and seller agree it is worth.
I personally don’t like buying micro parts of games, but I am willing to buy entire games, and if I’m willing to spend say $45 on a while world, it makes sense to me that some people might pay $1 for a little part of that world, they are saying in effect that it is worth 2% of what the overall experience is to me. Sort of, because money isn’t even with the same amount to everyone. Someone that pays mortgage, food, taxes, and such and has $50 left over for the week is going to be a little stingier with those dollars then someone that pays those things (or has them payed by someone else) and has $1000 or more left over is going to spend those dollars much more freely.
Is it really that weird to you that someone might value a virtual designer purse that exists only so people can show it off (looks fancy!) much like people value real designer purses that exist to both serve the same functions a far less expensive mass market purse and also so people can show it off (looks fancy!)?
Does something have to physically exist for you to decide it has value? Is an entire video game a thing that has value or not? Does the answer change if that game comes on a CD-ROM or is merely a download?
Is it just items inside a game that you don’t think have value? I have to say I’m kind of with you there, I don’t think they tend to rate thousand dollar values to me, nor do individual items tend to rate any signigant value to me (I’m not thrilled with paying say $1 for a stat boost), but I’m clear about the “to me” part. I can see other people making other choices. Like someone wanting in-game gear that makes them more like their peers, maybe no dumber then purchasing the right gym gear at 4x the price of normal gym stuff.
I don’t pay extra for fancy gym clothes though. I don’t tend to pay extra for style period. I pay extra for warm and durable clothes, but not sharp lookin’ stylish clothes. Some people live in warmer places and pay extra for stuff they like the looks of, but not a cent for stuff that is winter-warm because they don’t need that.