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Huh. Doesn't remind me of those at all. For example, I used the other new Apple Wallet functionality yesterday to put my local library card into Apple Wallet and now I've got one less thing to carry around. Worked perfectly for checking out a book today.
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What is new about that feature? Couldn't you add arbitrary IDs before?
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Users couldn’t (easily). It was meant for businesses, and everything was geared around that. They could do it through some web APIs or you could have an app create them.

There are websites that let you create them. It’s not like it was impossible. But it wasn’t straightforward for the average user.

Letting any user do it right on your phone is new to iOS 27. And this app now lets small businesses do it easily.

It’s actually rather strange it took this long, seems like an obvious gap.

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Nope.
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I mean this design aspect. To me it felt like it was a bit over the top, and I could imagine them to start making limited run series of them. Looking at it again, it says that there are templates, so maybe this art was made by designers, rather than AI images generated on the fly, but I imagined that they were the latter.
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It’s the same stuff they have always had. It’s designed to let you brand it with your store’s color and logo, and maybe a picture of the location it’s good at at the top. Stuff like that.

Same kind of stuff you would see on a loyalty card.

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OK, NFTs are like loyalty cards too then. Because these digital wallets don't need to be like physical cards. That's just an artificial design constraint.
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They have no value. You’re not supposed to collect them. You can’t sell them.

They’re nothing like NFTs.

They’re an optional, more convenient, way to access concert tickets you purchased or your loyalty card for your grocery store.

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NFTs are unique, thus their "value"
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