It is the best in what many deem the most important class: security. It has, by far, the most participants ($) actively protecting the integrity of the blockchain. That IS valuable.
Also worth mentioning, what some consider a weakness, in Bitcoin's seeming inability to evolve, others see as a strength. We can't forget to factor in the number of years of proven reliability and the fact that Bitcoin's blockchain has so far held to its initial claim of being an immutable ledger.
I think this is super important and easy to miss. While the price may be volatile, everything else about Bitcoin is not. Its blockchain is arguably the hardest thing to change in the world, and that's the class it's best in.
Like it or not, being first to the party and gaining the name recognition isn't just hype, it's branding, and that will make a world of difference in what people choose to adopt, for better or worse.
Agreed.