I don't think it ultimately gives inherent value to the stock, because you don't extract value from the company with this mechanism, but from others. Let's tak

I don't think it ultimately gives inherent value to the stock, because you don't extract value from the company with this mechanism, but from others. Let's take a planet in another galaxy. I would argue the inherent economic value of this planet for a human on Earth is null. You cannot and there's no realistic time frame in which you would be able to extract value from owning it. And yet you could sell the ownership, lend it, ..., and make money. That doesn't give inherent value to the planet, it's just speculation.