The problem with your idea is that your token isn't pegged to anything. You can't create value that way. Burning ETH will only make ETH's value go up, not your token's. In other words, if you burn 1 ETH, you'll only make ETH slightly more scarce.
when you spend ETH for the token you have intention to get something in exchange of ETH with real value, and this "something" really does have a value for you cause you spent real money for that
So the token doesnt need to be pegged to anything the same way like ETH doesnt need to be pegged to anything