It tracks double spends of cryptocurrency on the blockchain, which is only as useful as the currency itself is. Since BTC/ETH/etc is only “valuable” because of

It tracks double spends of cryptocurrency on the blockchain, which is only as useful as the currency itself is. Since BTC/ETH/etc is only “valuable” because of wild speculation and greater fools, the “value” part kind of collapses, leaving the “currency” aspect moot. Which brings us back to “no value”.