Crash, don't crash. Noodles, don't noodles. Irrelevant questions. What's the state of Bitcoin usage today? Ironically high considering the reality. I'm in the middle of trying to send a Bitcoin transaction that would have cost me $.04 to send, but would have taken approximately 50 minutes to confirm. Instead, I chose to send it with high priority, costing me $.55, and supposedly confirming in approximately 20 minutes. That was 45 minutes ago. I'm sorry, gang, but we have a long way to go before this technology is useable in any real sense, which makes the current price of it still way too high. It's too volitile to be a store of value for most people (Venezuela and other unstable national currencies not-withstanding), and it's almost unuseable in its current state as a currency. While it's true there's a lot of potential for some really impressive use cases, at the current time they're on the fringe of everyday use. From where I stand, $6600/BTC is laughably overpriced.
Interesting. So then what's your formula for fair price per usage? News flash .. there is no such formula. It's speculation of an enormous potential and most of us are OK with that because we see where this is headed. Have you looked at the P/E ratios for some of the biggest company stocks out there? My point, you could make your argument about any overpriced stock, and many of these companies will have far less impact and disruption on the future than Bitcoin and crypto will likely have.