Depending on perspective - and people in here clearly have many different perspectives - the purpose or value of Bitcoin can be different. But an objective view on that shows Bitcoin is failing on all the different purposes:
Bitcoin is a currency - no
It is failing as a currency, because a currency that dips up to Christmas when you actually want to spend some money is useless.
Bitcoin is a store of value - no
It is failing as a store of value as the extreme volatility makes it like storing water in a bucket with holes in the side
Bitcoin is a better payment tool - no
It is failing as a practical means of payment due to the extremely high transaction costs
Bitcoin is an investment asset - no
The extreme transaction times prevents any normal type of trading of an investment asset, drastically reducing market liquidity - meaning it has failed as an investment asset
Bitcoin is community driven - no
The community has clearly been shouting for something to be done in terms of the transaction costs and transaction times, but devs don't care
Bitcoin is for the poor - no
Only the rich are benefitting, with the poor now seeing their money being trapped behind a "wall" of transactions fees in excess of 100$
I somehow believe in your statement, but there are corrections I need to make in my own opinion.
Bitcoin is a currency - no
It is failing as a currency, because a currency that dips up to Christmas when you actually want to spend some money is useless.
I see it as a store of value for now. The reason for my opinion is; it's true that it's extremely volatile but compared to gold, bitcoin is much more environment friendly. You don't have to ruin a single piece of land in order to mine it, you just keep on consuming electricity, and the transfer of gold to another place is not easy unlike bitcoin where it's much convenient to transact to other users.
It's true that gold has made its own reputation on the market, but gold is not easy to buy and sell, you need papers in order to have it. Gold is centralized that's why it never loses value, unlike bitcoin that no single authority could dictate its price. You can try to buy gold on an
ETF (Exchange Trade Fund), but; as the ETF owner, you do not have (and are not entitled to) physical custody of the gold itself, unlike in bitcoin where you can physically or should I say digitally, have it.
We're in a new age of civilization wherein things must evolve and a new store of value must have its own place in the digital world.