The network is actually extremely valuable by itself, as an immutable time-dependent database.
You can write only a little of bytes, and it costs a lot. Maybe there are some theoretical use-cases for Bitcoin as a database, but on practice no one is using it as such. There's no way that the database use-case is giving Bitcoin more than a dozen of dollars of value.
Scarcity is the factor that amplifies the value. Decentralization is the origin of value, it makes Bitcoin unique compared to all other electronic money. Even if Bitcoin was inflationary, it would still be worth a lot.
The main use case for the database is BTC (transactions). Exclusive usage in the case of Bitcoin.
Ethereum is a way more useful network than Bitcoin (as a database and a network), for example, yet isn't as strong (in terms of computing power). MCap wise neither.
More networks to come will be more optimized and allow more and more use cases as DB/Network.
But BTC is a symbol, and has the stronger network so far (computational power)