My personal perspective is similar to yours, I do not count my crypto holdings into my wealth at all, but obviously, I "dream" that maybe one day a nice bull push will bring big profits. I tend to analyze the market in terms of industry-added value. In the early internet days, there were many companies trying to get into the train which ended up disappearing because their value proposition was just a "me too" model. I remember big names such as Bol.com (similar to Amazon) or submarino.com just to mention a couple.
With just roughly 12 years of existence, this technology has disrupted several markets already as banking, Finances, Digital Art, Digital Collectibles, and starting to speed up Gaming, most importantly, as it is a horizontal tech like the internet, it can disrupt just about any industry. I am convinced there are still many new models to come. That's where the real value comes in and where the early adopters may get their jackpot if they keep holding a nice amount of their initial investments.
Exactly. "We have a website" : VC values it at 100M.
Then wonder why the bubble bursts.
Yes! Infrastructure technology that makes everything above it better in a number of ways.