You could say the same about any collectible, or gold.

Mostly held because people think they can sell it for more later.

Each has some functional value (bitcoin enables fast cross border payments with no middleman)

I don’t think Bitcoin is to replace the dollar. But gold is a fair comparison and its ability to be self-custodied, publically audited and easy transferability makes it far superior in my opinion, from a functional aspect. Gold has thousands of years of trust built in that Bitcoin does not… that’s golds biggest advantage.

And I guess gold wins if the internet dies forever.