i think they do mean something. i have only had one bad meal in a 3*.
among other things that i have read in various places(no links) a 3* must use cloth napkins of a certain minimum size. use plates of a certain minimum quality, cover tables with some minimum described cloth, etc. one cannot get there on food alone. i recall talking to georges blanc some 20-25 years ago. he was quite upset that it cost him the equivalent of $2 mil (at that time) to upgrade his grandmother's restaurant (chez la mere blanc) to get the third star. the food did not change, just the ambiance.
so, probably a countryside 2* is a best value. i found many had food that i thought was just as good as 3*.
i used to prefer Gillaut Millau, as they rated only food. both guys are dead now, and i have not tried the book lately.
most 3* restaurants claim that they cannot make a profit and maintain the 3* rating.