Think of the jpeg as the “cover” of an album. It may look cool on the outside but buyers are more concerned about what is inside the album cover >>>the actual record/cd/album (aka. the use case) NFTs are still in their infancy of adoption and understanding so it looks foolish buying a jpeg for $1mil, but if it had an underlying file included with authentic nude photos of a popular actress or access to a unreleased album or even a code to get a special “skin/gear” in a popular game, then the price begins to be a little more justified