Aye, all children are equally valuable before God. And their dignity and ethical value change over time with their own actions and character development.
Equality has more to do with societal standing than inherent value.
Discussion
I think the idea that "all children are equally valuable before God" was more like what the American Founding Fathers had in mind when they said that it was a self-evident truth that all men were created equal. Unfortunately, that same meaning has been lost for most people today.
Many seem to treat the Declaration of Independence -- an exceptionally well-written document, created for the purpose of explaining their reasons for separating from Great Britain -- as if it were a legally binding document, and so they think that absolute equality is just the way things should be here in the United States.
But when that which was originally meant to mean "equal in the eyes of God" is misunderstood to mean "equal in the eyes of the state" by those who view the state as their god, should we really be surprised?