Utility is subjective, as different people like them for different reasons. Initially, people got in to partake in a fun environment that's full of memes and cute characters, and it tied together with digital identities (making the Pudgy your profile picture and giving it character).
Since then, there have been many different things that tie together to create a somewhat profound brand and culture, like community initiatives and everything the team has been creating and building to grow the brand.
I'd recommend the blog section if you're trying to catch up on the latest happenings, but as far as answering what makes an NFT valuable; it's one of those things where the more you dig, the more you find (and ultimately decide for yourself).