In my opinion, this is a bit like with gold. People made up its value mostly because it was "rare". It is used in the electronic and in the space industry mostly but the biggest demand exist for jewellery and .... financial assets.

What would happened if people stop buying gold ? I think the price would dramatically drop ...

One of the main differences between gold and bitcoin is that we can touch gold, and we can't really touch a bitcoin

People are not yet ready to stop buying gold and bitcoin is not yet accepted for most of people as a valuable asset.

In the future, people might stop buying gold and buy bitcoin instead !