I highly doubt a high score will be “meaningless”. It can only help, not hurt.
If you are in a higher SES group and not part of a URM, the test optional policy was not created to help you. Arguably it won’t hurt, but still… for those in that group who are applying unhooked to very selective colleges, it is probably in your best interests to submit a decent score if you want to be competitive against similar applicants, of which there are many.
While USNWR has said they will start to include test blind colleges in its rankings, I haven’t seen what their new methodology will be. Currently test optional colleges get a 15% penalty on SAT scores if at least 75% of their accepted applicants don’t submit scores. That could change. However, until you know for sure it has, in going TO you could reasonably guess that you are competing for 25% of open non-hooked spots instead of being in the 75% pool of those who will submit scores.
Finally, while many colleges are going test optional, we have yet to hear from many scholarships as to whether or not they will follow suit.
Finally, due to ongoing pandemic restrictions, there are a lot of high schoolers who have very little to do this summer. Many are finding that prepping for the SAT/ACT is an easy, obvious, and productive use of their time. I wouldn’t be the least surprised to see an increase in strong scores come fall. At the very least, that could add a bit of risk for those who can’t be bothered to try taking the test at all or want to rest on a so-so score.