So I decided to create my account to ask you guys, if you think BTC true potential, of giving individuals financial independence and direct control without relying on banks or large institutions, is being undermined by speculation and the lack of real-world applications?
It seems your perspective is completely different from most people here. While you want bitcoin to be used and applied in more real life as its original purpose was to create a peer to peer currency, providing and protecting our privacy. But unlike you, 99% of people here come to bitcoin with the sole purpose of making a lot of money and becoming rich. Not many people actually care about decentralization as much as they claim, so don't be surprised when many people disagree with your thinking, bitcoin lacks practical applications.
To me, at this stage bitcoin is still only used as a speculative asset, it really lacks real-world applications. That is one of the main reasons why it is highly volatile.