I guess OP meant won’t be worth much as in „when your government is overthrown, the new government might just kick you out of your home and strip you of your land“ as the current government is actually the only party giving you the right to claim ownership of the land.
Yes, I think that’s the consensus on how to pronounce it.
In case anyone has never heard the acronym: it stands for what you see is what you get. As opposed to what you see is what you mean (e. g. TeX)