For me, no! Bitcoin is not useless. How can you say that when many people lives was change by bitcoin unexpectedly and many become millionaire instantly who start from nothing. Bitcoin is indeed reducing poverty because of a lot of jobless people are now working to earn bitcoin and it extremely useful for their lives that it really aided them financially.
That's not what the OP meant, bitcoin by being useless is because there is no actual use after its creation, you imagine transaction cost is higher than paying what you get, i'd stick using fiat for transaction than using bitcoin. Yes bitcoin gave a lot of fortune and wealth to a lot of people but its practical use and function is still unknown.