Myths are useful to teach a moral lesson of some kind usually.
What is the value in pretending they are real though? That's the part I don't get.
Little red riding hood doesn't actually have to get eaten by a wolf in reality just for the reader to understand that sometimes it's best to listen to observed rules (follow the path rather than cutting through the forest.) Santa Claus doesn't have to be actually watching everything you do in order for you to want to be a good person. A story can have instructive value without adults pointlessly lying to their children about whether they actually happened.
Even when it comes to religion - the moral lessons and the bits in religions about righteous/just action aren't completely weightless without the belief in an omnipotent deity. They still have value that can be imparted on children without having to impose a lifestyle on them.
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