This is obviously incorrect, and you didn't bother to mention what the use case for UNI was. Uniswap did fine before they launched their token -- why do people need it?

Only about 10% of the total supply has been released on to the market but its already at #30 on CMC with a nearly $700 million market cap. As these markets are indeed irrational it could go up double from here is my guess, unless the team starts releasing more tokens onto the market.