Are you referring to Google? Cuz that's a bad comparison.  Google's intrinsic value is the cash the business generates.  Bitcoin isn't a business that generates cash, it's value is entirely dependent on outside sources (what people believe it's worth).  That's the exact definition of not having intrinsic value.

I agree with you that the value of bitcoin is in the network effect, but that doesn't change where value comes from.  Because there is no cash generation, value comes exclusively from external sources.  Don't confuse people agreeing to ever and ever higher value with intrinsic value, because the source of that value is still extrinsic.  To differentiate with Google, people could all agree that Google's business is worth $0 and everybody agrees that because it's worth $0 not to buy the stock for any amount of money, however because the business would still generate cashflow for the owners, that is the intrinsic value because it's not dependent on outside forces or everybody's consensus about value.  Bitcoin doesn't have that, it's only worth what a large group of people agree it's worth.