I disagree. You need publications for top residencies, especially surgery. I worked with multiple resident surgeons during undergrad and they continued to write prolifically to nail a top fellowship. I also worked with several attendings, who continue to write to boost themselves in the field and ultimately, become a chair in their department. If you care about prestige or working in a top academic hospital, which frankly, a lot of doctors care about, it matters. Also, if you read Paul Kalanithi's book, he was offered faculty positions at multiple hospitals with the help of his research. Atul Gawande is also where he is today because of his public health research and he has helped to educate the masses.
Outside of prestige/reputation, if you have done clinical research, you would see the importance of doing retrospective studies on improving patient care. The goal of a physician is to treat patients and also improve patient care.
Finally, most MD/PhDs do bench research. Research is still important on the MD only side. I've actually seen MDs churning out more papers than MD/PhD but that's because quality matters more than quantity in translational research. Overall, there is a practical application, but mostly to the dirty, yet important side of medicine.