I agree that Walmart is a stock. It has assets and earnings.
Bitcoin is not a stock. It is more akin to a commodity or currency. The value is based on an agreement of value between two parties.
A dollar used to be a dollar based on its weight in Gold and/or silver. That is not the case any longer.
Value is ALWAYS determined between two parties. You might not like the valuation, but that is how it works.
Exactly correct. Value is entirely subjective.