Profits could be savings. Meaning, lets say that you earn dollars, and you put some aside, you have 1000 dollars today, then dollar loses 10% value, but you have 1100 dollars worth, that means, you didn't actually profited, but you saved, and kept the store of value, and that means, you look like you are in the green, but in reality not.
It is less necessary to save in Bitcoin than to invest. Saying saving is more like a confused way of saying investment when we are describing assets that yield profits. Savings should be some where that can easily be pulled out at any time unlike in Bitcoin where you will want to withdraw only during a bullish season. I rather not save under any volatile asset, especially when i know i will need the money unexpectedly.
You also made a valid point, but in my own sense, that's the way i take a look at Bitcoin.