Recycling stuff to re-use it yourself makes sense or if you can get rid of it for free. We do put out a bin but only because it is free pickup and we get charged per bag for trash.
The net processing cost for recyclables outweighs the cost to landfill it and for most of the items, there’s little legitimate use for.
Personally I favor incinerators that burn trash and create energy. That heat can be harnessed and used to power turbine generators to make electricity. At worst it’s a wash.
Paper, plastic and glass can be reincarnated as a new item of the same composition-lots of small to medium companies do this-some are the same ones that recycle wooden pallets-but if you mandate recycling on some mega-scale and make a govt entity responsible, it is definitely going to lose efficiency and effectiveness of cost by being weighed down by lazy overpaid municipal employees and regulations-just like everything else govt touches...
The incinerator idea sounds great-it is warm here much of the year-our winters are short-but it probably work better where winter is long and cold and more energy is needed for heat.