Does this mean the total value of all bitcoins is similar to the cost of the electricity used for mining them? If so, isn't it worrying that so much electricity

Does this mean the total value of all bitcoins is similar to the cost of the electricity used for mining them? If so, isn't it worrying that so much electricity has been used because of bitcoin? I have often wondered if a currency could be constructed such that the mining would solve real computational problems, thereby doubling the value produced per energy consumed.