I don’t care about earning badges.
When they first introduced the awards, they added a little useful information. The player’s overall rank is just a measure of how many chips they have… not that useful.
You can look at their profile and see how long they have been on the site. Again, this isn’t that useful.
The number of badges and level of a player once gave some idea of how much they are playing. If you combined all 3 pieces of information, you could get some sense of their skill.
For example, if you see 2 players who started about the same time and have roughly the same amount of chips, the one at level 5 is probably better than the one at level 40. The one at level 5 is playing less, but winning more.
Of course, one could be buying chips, one could be playing only MTTs and the other rings, and so on, It’s not a perfect indication by any means. But hey, it was something.