Would't be better if the price reflects the real effort to "create" (mine) the bitcoin, or the effort to support the network like the electricity costs + hardware investments etc.
If we had really a mature, transparent market without excessive speculation, then "price finding" could approach that ideal. It could reflect maybe not the "effort" (to create BTC), but the "security level" or Bitcoin.
Image you're a millionaire, or the responsible person of a big business. Would you use Bitcoin as the main tool for your transactions?
The answer would depend on, above all, one variable: security.
You can estimate BItcoin's security - meaning that you can calculate the probability to carry out an 51% attack on the Bitcoin blockchain, that 1) could steal coins from your wallets or double-spend scam you; 2) could make the price plummet.
The lower the attack probability, the higher the motivation for the millionaire or business to buy Bitcoins and use them. So a growing security level, which is proportional to the "attack cost" (but not exactly proportional to hashrate) should create demand for Bitcoins, and so the price became correlated with attack cost.
We're far away from that ideal. The reason is mainly an immature, speculative market. There are too many unknown variables (regulation, bugs, scalability) that affect the price movements and so it will take its time to reach that "ideal Bitcoin price finding market".