As a sport, yes. We do the same with the 100m dash, and there is no-one anywhere who would employ humans based on the business utility of being to run 100 metre

As a sport, yes. We do the same with the 100m dash, and there is no-one anywhere who would employ humans based on the business utility of being to run 100 metres fast outside of entertainment. Pro chess is in the entertainment business; the strength of the players isn't really material to that. You're confusing the economics of recreation and entertainment with the economics of efficiently making things. They both exist, but they're very different.