Verification, regardless of network, is always a benefit to your profile. It shows people two things; you are who you claim to be, and you’re in it to win it. Both are equally important.
Verification as identity protection is valuable both because it helps your followers find you and identify you positively, and because it makes you a lot safer when it comes to impersonators. Some businesses, brands, and celebrities have a real problem with importers trying to steal their fans and monetize them for short-term gain. It can hurt their reputation, and it can lead to worse issues, like identity theft. A scammer using a fake profile for a business, setting up a fake website, can phish for financial information and steal it all day long. Illegal, yes, but hard to police and prevent. Generally someone has to fall victim before the authorities catch on.
As for the value of verification outside of protection, well. That little check mark proves to anyone watching that you care about your profile. It’s a measure of trust, so people can see that you’re putting the effort into meet verification requirements. It’s also an implicit statement from the site admins that you’re worth the attention. They don’t verify just anyone, right?