I would say "both" - any value it still has is purely in nostalgia, but it doesn't appear to take up much space so it's probably worth keeping in a box of memorabilia.
People like those digital cameras that shoot on floppy disks. I've never had one, but almost picked one up at a thrift store once and kind of wish I did. Keeping old computers and monitors around takes up a lot of space, but small-ish cameras are worth collecting in my opinion.
However, like you said, modern cell phones can produce very high quality video files so if you have one at your disposal there's no reason to use that ZR10 over a cell phone that can shoot HD or higher.