Uh, no. There's is a tangible relation between the actions going in and the results coming out.
You're not doing a bunch of sodoku puzzles while hoping that this time you'll be the lucky one who gets to process the transactions of the block.
It's pointless busywork because all that computing power doesn't do shit except try to win the round, not process the transaction, and that would happen whether it's only a single NES running the network or the sum total of every electronic device made by man.
It's pointless busywork designed to scale according to how many other people are doing the same pointless busywork.
Mining gold is pointless busywork; we already have all we'll ever likely need for industrial production, but people continue to do it because it has value.
I consider most of what goes on in Washington, D.C. to be pointless busywork.