Hmm... Interesting idea but I strongly disagree.
I'd say that btc has no intern value. You can't say btc is "undervalued" because btc has no value in itself.
In fact nearly nothing has value in itself! Only crafted objects, that can be said having the value of the raw materials they're made of...
The value of the bitcoin lies in its usage. It is supported by the PoW mining. So it is intrisinc value.
That word don't mean what you think it does.