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The phrase "is of less value" is grammatically correct and can be used in written English.
It is typically used to compare the worth or importance of something to something else. Example sentence: "The antique jewelry is of less value than the modern pieces."
Exact(30)
But if it's plentiful, then ownership is of less value.
"Bertie Ahern is saying a policeman's life up here is of less value than a policeman's life down there".
Anything bigger, better or longer in range is of less value" in the competition, which pits EADS, the parent company of Airbus, and Northrop against Boeing.
If you are trying to honor the spirit of her gift, then an outsider's perspective is of less value than the consensus of the involved parties.
The fact that you will have taken out a loan to buy your share of the property doesn't mean that your share is of less value than your partner's.
… If researchers attempt to short-circuit the process by leaping from phenomena to theory, their work is of less value to future researchers and practitioners than it could be". See "The Process of Building Theory," Harvard Business School working paper no.
Similar(30)
Of course, some statistics that are important in one conflict are of less value in another.
Undoubtedly, such reports are of less value and lower impact compared to those arriving from the theatre of action.
The most consistent message these students had received was that their lives were of less value than others'.
Ads that do not offer a way to measure success are of less value to marketers.
To charge arts students less than science students would be to imply our degrees are of less value.
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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