Preferred tells the client "I want you to do this, if you can". "Required" tells the client "if you can't do this, abort". While you're entirely correct that the server can't count on the client to enforce this, in practice these types of requirements are common ways for servers to restrict what authenticators are used, or how they're used.
For example, Yubikeys have an optional password requirement when using them. Specifying "Required" is a way to tell a Yubikey-using client "if your key doesn't have a password and you won't add one, abort; if your key does and you don't get it right, abort". That's a reasonable thing for a site to want, especially when webauthn is used for single-factor authentication (the typical "passkey" scenario). Sure, the user could instead have an authenticator that just lies to the server, but most of the time, that just makes the user's account less secure.
I suppose from a savvy user's perspective, the ideal behavior is "user decides whether or not verification is required for a given app/server; always report to the server that whatever it wants was met". This might even already exist, in software form, somewhere (I'd be somewhat surprised, though not shocked, if it exists in hardware too). But a company like Yubikey (or Google, or Microsoft, or Apple) isn't going to do that; if word got out that their authenticators (either hardware tokens or platform authenticators) let lazy users bypass the servers' security controls, that would be bad for business. Most people are not, in fact, good at risk evaluation, and even if they are (or at least, are better than the app/server), the expected model is that the developer chooses what forms of credentials their app/server accepts.
To look at this another way, there's nothing a server can do to stop you from putting your password on a sticky note and attaching it to your monitor (for traditional password auth, rather than webauthn). The site can tell you not to, you can ignore it, your boss can fire you for doing so in violation of company policy or just exhibiting terrible judgement. Similarly for webauthn (or FIDO2 in general), the server can tell the client to require user verification, the authenticator can ignore this requirement, and companies who purchase authenticators by the truckload can cancel all their contracts with the maker of the authenticator.