It's value though was only to someone stupid enough to pay for an item that they theselves could have got with time, at no cost at all, considering they too must be playing the same game.
To continue your CD analogy, if you win 500 tickets at an arcade, you spent real money, and some luck, to get them. And this item was not given away, it was sold, so, just as someone without a CD player would not buy a CD, so would someone who was not playing this game not buy the sword. In fact, you can buy a CD and hold onto it until you get a CD player, whereas you must already have an account with the game in order to get the sword.
If someone is that passionate about what is supposed to be a diversion, then I think I would consider it extremely likely that they are suffering from addiction at an extremely unhealthy level.