value
Obviously this has real value. Once its created, the cost of making more of them drastically reduces as it will cost substantially less with each subsequent one to get the materials into space to construct it.
The cost, once created, versus rockets would be akin to the user experience of the internet via dial-up vs always connected wifi-based broadband.
Not to mention the materials aspect. The prize of $2m towards a material for this goes a long way towards creating a material with other properties as well. On a strength-to-weight ratio, imagine cars stronger and lighter than today's current cars. Their fuel economy (be them petroleum or electric or fusion powered) will drastically increase and thus their fuel costs will go down. Not to mention the materials being carbon based means its in even more abundance than iron for steel (which is essentially infinite).
Its not just the space elevator, its the various things that this also allows for.
