Ok, that's the "Bitcoin will be the new gold 2.0 store of value" scenario. I might have doubts about gold bugs switching to bitcoin or adding it to their portfolio but fair enough.
The problem with this idea is that a lot of people that are bullish on bitcoin long term are arguing that bitcoin or cryptocurrencies are great because they can be used for remittances, to cut billion in fees, to allow the unbanked to have access to financial services, smart contracts etc.
The problem with that is that if a distributed ledger system that works without a cryptocurrency, these native tokens are not needed, and that would deplete the value of any crypto.
So a lot or reasons why your cryptocurrency should be valuable suddenly disappear.
I think just the gold and money 2.0 properties are enough for Bitcoin to remain valuable, even if it's stripped of all other potential use cases. But I'm doubtful a distributed ledger system will actually work without an underlying token of value like Bitcoin, could you explain how you think that would work?