World records matter on their own, as long as the measurement is trustworthy. The way we know this matters at the Olympics, is that world records are being tracked and discussed at the Olympics.

But you're right, they don't affect medals.

My point is that it’s not the spirit of the games. Ancient Greeks didn’t even keep a record of any metrics. Back then, there was no assumption that “modern” competitors should exceed the performance of those who competed decades or centuries before.

This type of focus leads to unhealthy expectations and doping in my opinion.

Indeed. I also don't find fractional seconds very exciting. I call a difference of .02 seconds a tie.