As far as I can see, the business model of cryptocurrency exchanges revolves around the speculation use-case, since they profit from matching buyers and sellers

As far as I can see, the business model of cryptocurrency exchanges revolves around the speculation use-case, since they profit from matching buyers and sellers of cryptocurrencies. If cryptocurrencies worked as advertised (i.e. as a peer-to-peer payments system), I don't think there would be much use for exchanges.