I completely agree, when people complain about bitcoin's lack of Intrinsic Value. But the scale of economies are so large, that simply providing the value of sending transatctions without a central authorizing power is value enough.

I understand it's not the best crypto but even older products can still be used to solve a problem.

For this reason, bitcoin can go to any price point and still be justified by the forces of supply and demand. Yes it will be subject to reduced supply as the competitors take bitcoin's marketshare

Which has been happening for a really long time btw
But the market is so bullish right now that bitcoin isnt overtaken yet.