Bitcoin is valuable because of its scarcity. The limited number of coins and the fact that it is controlled by software and agreement of the miners, unable to be manipulated by any government is what makes Bitcoin valuable. Trust in this is what drives Bitcoins value and growth.
Actually it's the Blockchain tech that makes
BTCBTCBTC valuable, and all the possibilities that can be developed from it.
It doesn't doom "all" to worthlessness, it just dooms the ones that think that the idiotic notion of "scarcity" matters.
This notion actually makes
BTCBTCBTC and most of the alts more of a speculator's tool than something with true value.