The current valuation is a result of the large inflow of money to buy bitcoins.
As capabilities it is worse than many other blockchains - ossified protocol, no way to evolve.
And regarding the market valuation - the price of bitcoin and other crypto-currencies is quoted in ‘stable’ coins.
What most people assume as a guarantee of 1:1 peg to fiat/paper currency is just a promise which can be broken.
