More so, is there any value in just qualifying for olympiads, like math olympiads, even if you don’t get any distinction from them?
Sure. For instance, qualifying for USAMO is a big deal in math. Not a guarantee of anything of course, but it’s one of the premier accomplishments for a high school STEM student, especially because in any given admissions year there are only going to be about 200-250 qualifiers in the entire applicant pool.