You responded with nothing more than a "See, We warned you, we were right" and point to the current market action as evidence that nobody needs bitcoin, as if the current price is proof of your correctness. Like it makes any difference.
... you're proposing there's a superior method to gauge the value of bitcoin other than the market exchange rate...?

Yes, of course there is. Otherwise the smart money (Soros, or all the early adopters here) couldn't make profit of an irrational market. The market doesn't represent the mood of the few.