Once again, we find ourselves in subjective territory. But, as long as we keep in mind every group, in fact every player, has their own goals and wishes as to what they want out of a game, than a varied list can be compiled.
Personally, I think that role playing games should be played to the best of the players abilities (actually, all things should be done to the best of ... I'll just continue), and that the game can be used to develop various skills within the players. Ranging from improving simple mathematical computation speed to learning how to shift personas rapidly and distinctly, the game can be used for great personal progress. It is, of my opinion, that any thing that does not provide at least some merit outside of enjoyment is a waste of time. And, playing a game at level far beyond your capabilities not only lacks merit, it might even be detrimental.
If anything, being able to create a "good" character for roleplaying games opens up quite a large world of understanding. There are characters in almost every film we see, every book we read, every video game we play. Understanding the character creation process, even in something as dissimilar as a roleplaying game, helps enrich the enjoyment, understanding, and possibly development that comes from partaking in activities encountering characters made by other people. It's similar to how knowing how to cook helps you become a gourmet.