It's helpful to remember the history of how they got here. Commodity producers (farms, oil) need to make investments before production, but want to reduce their exposure to changes in the spot price in the future. Hence futures: the ability to sell oil or onions six months in the future at an agreed price, rather than wait until the day to find out spot. This is genuinely valuable to them in terms of shifting risk to the finance industry in return for a price. It's like insurance.
Options are then futures where you don't necessarily have to close out the position. They are a means of insuring against price changes .. or to get paid for providing such insurance.
However, in things like farming and oil exploration much of the risk is real and physical. The further away you get from that to derivatives of other financial instruments, the more it becomes just a mix of what the other market players are doing.
Then there's "we priced these risks as de-correlated but actually they're correlated", which blew up a lot of people in 2008.