Do Cisco certs still carry any value other than a resume boost?

I've met some heavily decorated techs/engineers that can't even answer a simple BGP question. Then there's guys with real hands on experience and no certs, who can outpace certed guys any day of the week. Dumps really have devalued certs and they're pretty much false advertising on your resume. Thoughts?

edit: Outside of CCIE, which is an actual test of knowledge. This is mostly about NA/NP