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Not gonna happen.
Badges are crafted by combining cards, which as previously established have value. Essentially many badges cost money. Since Steam Points have no value, they can't be used to buy badges.
Seasonal badge, 40 levels, at least 2x a year...
https://store.steampowered.com/points/shop/c/steambadge
"many badges", see the qualifier many, in this case "game badges that require cards to craft", has a significant meaning.
Event badges would be the other example. Clearly event badges and game badges aren't the same thing since you can't buy game badges with points, no?
Steam points and wallet funds are not equivalent currencies. And quibbling about the value of wallet funds doesn't really change the value of wallet funds compared to steam points.
The lazy and convenient comparisons you're making don't negate the obvious differences that clearly exist. Pretending everything is really the same doesn't actually make them the same. Not being able to buy game badges with points isn't some kind of oversight or mistake on Valve's part, it's deliberate. Why? Because cards and wallet funds have some kind of monetary value. Steam points do not.
Can you see why this is not going to work?