It will eventually function as a store of value and as a means of payment, but today it is considered more like investment, unfortunately. Majority of people think only of prices and pumps to make profit and they don't really care about adoption, technology or development.
I also see it as a store of value not the payment system Satoshi had dreamed of.
Bitcoin with its deflation will never be a popular payment system because people want to spend what loses value and hold what gains it. You don't spend your gold and hoard cash. That would be counterproductive.