Bitcoin is very slow transaction and fee is rediculus then why people bother buying it or considering it. I have £130 of bitcoin and I want to move it and it is asking for £28 network fee. Why should people bother having it. I can't wait to get rid of it when the fee is low.
I do not agree with your speculation. There is a reason why the price of the bitcoin is high. And also bitcoin is not useless, it is trusted by so many investors that is why you can't say that it is useless.