Perhaps the next great distance runner gets interested in running initially because of the medal. Both of my girls got started that way, and they both graduated to a reduced value of the medal and increased value of the competition and their relative performance.
Or maybe the next great distance runner starts running with mom and dAd and the parents were motivated by the medal but the kid is entranced with the competition.
Anything that gets participation up that might influence another generation is a very good thing.