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The phrase "are much less valuable" is correct and usable in written English.
It can be used when comparing the value of two or more items, indicating that one is significantly inferior in value to another.
Example: "While the original paintings are priceless, the replicas are much less valuable."
Alternatives: "are significantly less valuable" or "hold much less worth."
Exact(9)
Stores are much less valuable for all.
Third-edition copies, from 1649, are much less valuable than second-edition copies.
These smart bombs and missiles are much less valuable in the usual internal conflict.
"There is no question that stadium rights deals are much less valuable for existing stadiums," Weaver says.
Contrary to a common assertion, patents issued to small patentees are much less valuable than those issued to large corporations.
This is a pretty rough analysis, since the categories are administrative and not economic (in other words, some categories could be worth billions of dollars while others are much less valuable).
Similar(51)
For instance, movie franchises might be much less valuable if copyright protections didn't last so long.
The province's inheritance from the Japanese phase was much less valuable in agriculture than in industry.
A 10-yard completion on third-and-20 is much less valuable than a conversion on third-and-9, and ESPN's Total QBR measures this.
In every sense, a championship is much less valuable to a boxer than the kind of notoriety that Mayweather and McGregor have: in boxing, popularity translates into an athletic advantage, because big-name boxers can pick their opponents.
American Vietnam policy mystified and enraged Ellsberg because its goal, preventing Vietnam from becoming a Communist-governed country, was much less valuable to him than it was to Congress, the public, or the various Presidents during the years when the American commitment was being ratcheted up to the level of full-scale war.
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Since I tried Ludwig back in 2017, I have been constantly using it in both editing and translation. Ever since, I suggest it to my translators at ProSciEditing.

Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com