Over the last several years, the value of the three-point shot has risen. Well, it still only counts for three points, technically, but teams and coaches are learning more each season how to utilize the long shot to maximize their offensive potential.
The true value of the three is the fear it strikes in the opponent. When a sharpshooter is scooting around screens off the ball, the defense has to pay extra careful attention not to let him get loose for an open look. That extra attention the shooter draws means his teammates in the paint or on the opposite side of the floor have more room to work should the ball quickly swing their way, likely increasing their chance to score.