Rather, Bitcoin appears to have value for the following reasons: It is popular.
that is just your opinion.
anything has value for its utilities. Gold has value not because it is physical but because it has usages. same as anything else.
bitcoin is a decentralized currency and that is its usage and what's giving it value.
that's true, not only that, there are so many halls that influence bitcoin has the value of starting popularity until Bitcoin is decentralized and limited. This is a major factor for many Bitcoin users.