this makes altcoins with PoS have no underlying value in its coin creation. thus reliant on value from the features of what that coin can do/be used for after the creation to keep the coin active/alive.
I disagree with that first statement, since there's essentially the same "intrinsic value" for both PoW and PoS coins, which is what you wrote in your second statement, i.e., they're worth whatever people are willing to pay for them based on various factors. I don't buy that whole "bitcoin is backed up by all the work and electricity involved in their creation" argument. I never did, because it makes no sense to me.
maybe if you take a break. sit back and relax for like 30 minutes and realise.. PRICE IS NOT VALUE
many people think the only thing that exists in life is the price. one point of measure. one level..
however this is not true.
the PRICE is made up of layers. like a sandwich
PoS is a meatless lettuce and tomato sandwhich...
PoW is a BLT of bacon lettuce and tomato
yes both have lettuce and tomato. but your missing out on the bacon
the underlying value is the bacon..
the lettuce and tomato is the supply demand sentiment
imagine gold. as explained before.. the cost of the diggers, the labour, the diesel the sluice machines the licences of water/land rights. all form an undeniable underlying cost.
however treasury bank notes. have no real cost. its like a quarter of a penny to print a piece of paper smaller then a post card
notice the difference
yes a $20k bank note and a $2k gold nugget both have the same PRICE. but their values are different.
people would rather have the nugget. as the paper bank notes price wont be as good in 20 years as a nugget
a bank note in 20 years will buy less loaves of bread than a nugget would