Bitcoin (capital B) is valuable. An individual BTC is not, but that's true of any currency. We can argue until the cows come home about how valuable these things really are. Speculation in these markets makes it too difficult to judge. People will bet on these things not because they are delivering lots of value to us right now or in the future, but just because they think they'll still be around in the future. That gives monopolists like the ones above the advantage, regardless of value delivered.