It's certainly an objective truth - it's attested to by the energy spent in producing it. Attesting to alternate truth is often possible (we have orphan blocks

It's certainly an objective truth - it's attested to by the energy spent in producing it. Attesting to alternate truth is often possible (we have orphan blocks all the time) but - the older the truth, the more objective it is. The intrinsic value of bitcoin is censorship resistant storage. The speculative value of bitcoin is somewhere above 0. If you don't need censorship resistance - don't use it. But if you think no-one needs censorship resistance, then you are empirically wrong, as demonstrated by the hundreds of thousands of transactions per day in Bitcoin. As for burning increasing amounts of wealth - well, the network is pretty well calibrated. It's not a chain reaction that will take over the world, it'll scale to precisely the size that the market demands.