Sounds like you value something more like Folding@Home for your CPU cycles. And that's fine. They work towards such goals and reward contribution with points. The work done isn't easily translatable into points however. I've read about the folding project tweaking the point system to reflect different projects and computer platforms running them. So it might be difficult to understand the value of a point.
Energy is spent maintaining the system, true. Some of it would be used anyway some not, but the trading system is worth it. As an analogy, people drive cars which use energy and also emit CO2. Is the gasoline to drive to the bank wasted in that it doesn't produce any more useful work from you?
I'll have to punt to the economics forum on the give everyone all the coins question but I don't believe it will quite work if you drive out all the scarcity.