You respond twice downthread that while Bitcoin may not be anonymous, Monero is. Do you then concede that anonymous payments are not a major use case for the non-anonymous Bitcoin protocol? Why then is Bitcoin so valuable?
Well, Bitcoin is good enough for these use cases even if it's only pseudo-anonymous.
But I do agree that the current valuation of Bitcoin is to a very large part driven by speculation, and from the network effect. As some comments here point to, Monero isn't even widely known despite being technically superior in many ways.
There's a spectrum of anonymity. Bitcoin isn't automatically anonymous to law enforcement, but not everything is about being anonymous to law enforcement specifically. It's nice to have the ability to make a purchase or a donation without my name and phone number being put on aggregated marketing lists, etc.
Bitcoin is valuable because people value it. If you need anonimity you mix your coins - almost every darknet market (likely bitcoin's largest transactional use case) explains how to do this
Complete sets of 1991's X-Men #1 1A/1B/1C/1D/1E gatefold covers were also valuable because people valued them, until people did not value them anymore.
