adoptin be the key bitcoin volatility in future, if we mass adopted and blockchain technology applied in many tech system it would not be same with gold which is only as an assets not as technology. alot people look bitcoin like gold as assets but they dont see the technology behind it. soon it will usefull in any system information that will replace old technology.
No one seriously doubts the Bitcoin protocol and its ability to deliver on what it claims - being a p2p global censorship-resistant network. It's irrelevant if "blockchain technology" is applied in other spheres or not, I personally have been viewing it as a failure for quite some time - the hype started 6 years ago, and still zero results. If there was some merit to it, there would already be some promising results, but there are none such. According to your idea that Bitcoin depends on public perception of blockchain technology, Bitcoin would have already crashed to the ground.