"Meaningless" isn't accurate at this point. Media doesn't get nearly as severely downgraded (if at all), so the user experience of using an RCS chat is better than SMS/MMS.
There are still disparities, though, that should be presented. There's no standardized end-to-end encryption yet for RCS (although it could be argued Google's protocol is a de facto standard), and Apple has indicated it will be implementing RCS as the standard dictates, i.e. with no E2E encryption. Using blue bubble to indicate E2E encrypted and green to indicate otherwise is a reasonable UX choice.
After Apple implements E2E encryption over RCS via whatever standard (which can be reasonably inferred as their intention from their announcements), if the delineation for green-vs-blue is still iMessage/not-iMessage (rather than E2E vs not-E2E), then I think "meaningless" applies. But we're not there yet.
There are still disparities, though, that should be presented. There's no standardized end-to-end encryption yet for RCS (although it could be argued Google's protocol is a de facto standard), and Apple has indicated it will be implementing RCS as the standard dictates, i.e. with no E2E encryption. Using blue bubble to indicate E2E encrypted and green to indicate otherwise is a reasonable UX choice.
After Apple implements E2E encryption over RCS via whatever standard (which can be reasonably inferred as their intention from their announcements), if the delineation for green-vs-blue is still iMessage/not-iMessage (rather than E2E vs not-E2E), then I think "meaningless" applies. But we're not there yet.