Obviously, if you paid people for what they actually contributed to the wellfare of society, athletes would be paid far less than as you allude to, police officers, school teachers, military personnel, etc.. (although in fairness to athletes when teams win championships, they can often lift, at least in the short term, the spirits of entire communities)

That said, however, athletes are paid what they are because millions and millions of people care about sports, watch sports, read about sports, pay to go to sporting events, etc. If no one bothered, athletes wouldnt be paid. That simple.  

So while an athlete is not worth 120 million (or for that matter 1 million) in the overall importance of societal contributions, the fact of the matter is that sports as a whole is a multi billion dollar industry that millions of people care about and contribute to.

there are a number of players that would be "worth it," starting of course, with Babe Ruth.  I just don't think Holliday is worth it.  It was a relative comparison, not an absolute one.  For what it's worth, I don't complain about provider rates, as I can accept or reject as I see fit.  I might also add that I've attended ONE baseball game in the last 15 years.  It simply isn't worth it to me given the prices they're asking in NY.  So let me try this again - I don't think Holliday is worth it relative to what other players are getting in today's market. Doesn't matter what I think, however, because if someone is willing to pay him that, he's obviously worth it to somebody.