I agree with you on that, casino licensing most especially in online crypto casinos is pointless anyway since no casino owners or operators who commit scam and other fraud have been persecuted, and to say this casino is licensed does not make any difference to this day.
Sometimes, I wonder what os the point of casinos is to own a license after all players may not get justice if their become victims of the bad casinos parading themselves as licensed casinos.
The license costs a lot of money, it needs to be renewed every year. Licensed casinos are forced to submit financial statements and pay taxes. This is beneficial to the state and the regulator, because they receive money from the casino.