The price of bitcoin merely has to be at least the cost of electriticy to produce it. There is nothing preventing it from being higher. Or much higher.
Nothing. Except rational behavior.
If mining is is highly profitable more people (or farms) will do it and expand capacities. I mean, seriously, who wouldnt want to buy a "money printing" machine?
Mining capacity (and power requirements) will allways follow price.
I don't think this is true.
The ability to set up miners and add hashing power to the network can easily lag behind the price in a bull market.