No. Our advancement as a species depends on exploration, it always has. From cavemen exploring beyond their tribes to crossing oceans and discovering continents. For us to survive and prosper we have to get off this planet.
What is happening now probably won't bear any real fruit whilst any of us are alive, but generations to come simply need to have access to space. For resources, for research, for expansion, for protection, as well as improvements to life on earth. Pre-billionaires, the cost to put 20 tonnes into the lowest orbit was around $150 million. Significantly more the higher you want to go, or the bigger the payload you want to send. What Elon Musk is doing is making that access easier and cheaper than ever before. Jeff Bezos' rocket is a test bed for a future bigger, more capable rocket that will make it easier and cheaper. His joyride was a bit self indulgent, but somebody needed to be in it to prove its capability.
What we've had up to now are the space equivalents of the Wright Brothers and Charles Lindbergh. We're now at the stage of trying to build the first airliners, with the aim of eventually getting to the 747s and beyond.
The only one that is genuinely pointless is Branson's effort. That's just a very expensive theme park ride.