A work that isn't publicly shared by the author could be shared by someone else without permission. Copyright law does and should continue to criminalize this.
Literally everything "of value" that was ever published was unpublished for some period of time.
Also, people may keep works private not because they lack value, but for other reasons.
As a very simple example, a someone might take a racy photo for their own private use, not because it would have no commercial value, but because they prefer not to commercialize it. And there are hundreds of other reasons why someone might choose not to share a work with the world.