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Book chapters are indeed important, but they have to be based on something (i.e., science), and someone needs to be putting out that "something." Also, I'm of the opinion that in order to appropriately summarize research as would be required by a book chapter, you need to be intimately familiar with the process of creating it. This is what grad school is for, and is likely one of the reasons why peer-reviewed pubs at that level are given so much weight vs. other types of produced literature.
Yeah, I have nothing against book chapters, but I don't view them as part of a rigorous process. The ones I have coauthored have been very easy pubs, and I don't count them in my pub count. They just go on my CV in a different section. It does show that someone thinks highly enough of your work to ask you to write it.