독해의신2 116번 지문 질문드립니다

The reality is that diamonds only have such value because of their rarity. If they were as common as garden stones and could be dug up from any old bacy yard , even the best of them would no longer be priceless , but valueless.

맨 마지막 문장 부분에서 no longer는 be priceless에만 걸리고

뒤에 but valueless는 would be만 걸리는것 맞는지 궁금합니다

보통은 두 군데에 같이 걸리는것을 자주 봐와서 확인차 질문드립니다.