I believe the question of real value is not as simple as it looks. Do computers have real value? To many people, they do, but there are also the elderly, for instance, who live well without computers and to them PCs are worthless. Does a smartphone have real value? It does if you know how to use it, and if you live in a place where you have stable access to electricity. Then there's food, which generally has value. But meat is of no value to vegans, and a pack of rice isn't of value if you are in a war zone, living underground and unable to cook on fire. And then no more abstract things, like securities, debt trading and stuff. Do they have value? Not really, they're too far from the physical things. And does fiat have value? It doesn't, it's just numbers on a screen or a bunch of banknotes.
My point is, value is negotiable and dependent on the people and the circumstances. There are plenty of people to whom Bitcoin has no value, but there are also at least dozens of millions who believe in its value and are ready to exchange it for a certain value, which is all that matters.