I think one of the positive things about bodybuilding is that many of the macro level principles used to progress in bodybuilding apply well to other areas of our life, and thus contribute to us being a successful, constructive contributor to society.
To succeed in bodybuilding (obviously this can be defined many ways), you have to be willing to learn, to follow instructions, to be consistent/diligent, to make modifications as you receive feedback, work extremely hard, be disciplined in your diet and cardio, etc. These character qualities that provide very tangible results in bodybuilding are the very character qualities that provide long-term (sometimes less tangible) positive results in other areas of our life--our career, our relationships, etc. So in that respect, I think it can be worth it.
But like many things, bodybuilding can become unbalanced, and sometimes (I suppose) it must be when trying to reach the apex of that hobby. In that respect, when out of balance, it can become destructive. I suppose it's like many things in life. Finding the proper balance is important, but not necessarily easy to do.