For many of us there are no celebrities anyway. Does it really matter to anybody what some starlet is going? Does it matter if a well-known bimbo has a *shudder* "baby bump" and is carrying some nobody's "love child"?
On the other hand, if you separate role models from celebrities it's good to know that their our people in your field of personal interest who are high achievers and who may inspire us to be the same. (I want to be as knowledgeable as waldorff, as funny as Sasquatch, as well-educated as MelloBlue, and as loving as VirginiaL. Those are some of my Ask role models.)
But celebrities? They're almost as anachronistic, and as useless, as the European and British royals.
We would all have higher self esteems. Without celebrities, the image of "perfect" people wouldn't be shoved down our throats as much, and we wouldn't al expect ourselves to be that beautiful, perfect person (who doesn't actually exist cuz it's all Photoshop) also, if artists werent so idolized, they wouldn't all have such screwed lives and we'd have only the real, good music and movies because no one would b famous for just being attractive and a good showman.