Is AAPL competing with fiat as money?
Sorry but that's such a stupid thing to say. I'm sure you can do better than this...
Let me ask you. Did the current 1B$ ecosystem investment, equivalent billion dollar mining infrastructure, incremental userbase and increasing transactions come before or after the price increase?
Of course I'm being silly and hyperbolic, but only to illustrate that market cap isn't some "build it and they will come" metric.
There is a feedback loop between price and user growth, but it can only be sustained with growing utility.