What is it good for, other than the value of people place on it because of faith?
You can’t eat it. You can’t build something out of it. You can’t play with it. You can’t use it to get somewhere. It only has value because people give it value in their mind. Just like tulips.
Bitcoin allows anyone to store value in a decentralized global network. It also allows anyone, at any time, without any license or permission, to send value almost instantly across the globe to anyone else.
That in and of itself will always be valuable, and right now that value has a market cap of $1.3 trillion.
At its base utility, Bitcoin has no issuer, no counterpart risk, or intermediary, so it’s a public and secure network available to all and not controllable by any central government.
Its scarcity means that anyone in the world can own a small (or large) part of the network through fungible BTC tokens. That supply of tokens will never change, and as the demand for permissionless and borderless payments increases, so will the value of each token.
Bitcoin is a global payments network based on a digital asset that can store value with no hardware or cost is valuable, which is why it’s considered a digital commodity.
The fact that you glean no value from it is irrelevant.
Bitcoin is now the scaffolding for exchange traded funds from the world’s largest financial institutions, is considered legal tender by a small, yet growing number of nations, and is an accepted form of payment by tens of thousands of merchants in the US alone.
Your dismissal of Bitcoin seems to be based on the tautology that “as soon as people don’t value it, it loses value.” But that isn’t an argument.
An argument would be some specific piece of evidence that at some specific, future time frame or epoch, mankind will not value Bitcoin, or borderless payments, or digital assets. This is true for any commodity if there’s a sufficient replacement or a halt to the need for the utility it provides.
But there is no evidence of any such thing.