Historically it has a point (Rebirth etc) but that was in the days of most people worshipping the seasons, the sun and moon et al. Personally I have long since given up sitting around until midnight but in my younger days going to Trafalgar Square and snogging a few gerls was a good enough reason for me to celebrate.
I still find the ending of the old year and the start of another a time for reflection, a reason perhaps to pause in life and remember old friends, dead friends and rellies, to consider past mistakes and those yet unmade. It is also a good reason as any other for having a dram or two (not that there is any need for an excuse to drink a good malt).
Anywhoo if we throw out all traditions what have we left?