It's the universal de facto standard at least in North America, and nobody takes it especially seriously. About the best thing you could say for it is that it verifies that you're an actual company and not 3 raccoons in a trench coat. But if you're savvy about how you manage your auditors, you can get an attestation for 3 raccoons as well.

Right, in general the compliance programs mean that you are at minimum put together enough to scam the auditors which is, in itself, not nothing.