Fiat by definition means state sponsored or decreed by government. Under that definition, bitcoin is not fiat.
Correct, and an important distinction when attempting to determine the
true value of Bitcoin (the technology).
Bitcoin has inherent value by its design as a decentralized network and de facto value
based on the network itself as well as the bitcoin economy as a whole.
Correct again, and
extremely important when attempting to determine the true value of Bitcoin (the investment).
When I say true value, I mean "what BTC will be worth in 3-5 years when the rest of the world catches up with the top 5% of the IQ bell curve folks who have already figured this shit out".