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Let's put it this way, for the sake of clarity.
Every time a batted ball occurs, it has a 70% chance of being converted into an out.
A K prevents a batted ball from occurring at all, thus converting a potential batted ball into a definite out.
But every time a fielder makes a play, he's converting a potential out into a definite out just the same. They have exactly the same real value (actually a K is worth slightly more because it prevents baserunner advances often enough to more than offset the loss of DP chances) and exactly the same theoretical value too.