Was The Deacon Worshipped Because It Could Procreate?

Was the Deacon worshipped by the Engineers because it was capable of giving birth? Were they now sterile or were their females extinct? I realise this theory is flawed but I am sure that many of the greater minds on this forum will be able to help me out! 

Did they find it, or create it after much experimenting? Or was it a never to be repeated or lost being, that never came about again until the good ship PROMETHEUS landed and Shaw became the unwitting host for it's recreation?

The crystal on the alter most likely contains it's blood, is that all that remained of it? Do the urns contain a synthetic mass produced form of it's blood/DNA. Or do they contain the essence of a whole race of Deacons, perhaps males and females, which they have combined with their own smart nano tec? 

When the Deacon is birthed from the Engineer it comes out complete with an umbilical cord attached to what looks like a womb, rather than just a placenta. But then again why would it be externalised?

Why else would they hold it in such high regard? 

As always, I look forward to your thoughts and theories!