I thought it wasn't "released" initially in a manner that was meant to be a product.

I seem to recall that the release in late November 2022 was only intended to be a way for volunteers on the Internet to experiment with it and provide feedback.

Well, that was the valuation of their last fund raising round, which included a tender offer to employees. So it was worth that much to investors and to its current employees.

Worth is determined in the same way that it is for every single other thing in the world.

It is "worth" what someone else is willing to pay for it.