The tokens only have value because people speculate on them
This is a bit weirdly stated for this case, I believe. The Brave tokens have value because they offer advertising space in the browser. You're speculating on the value of that advertising space, not so much on an altcoin/token itself.
Yep, as I said some tokens have smart contracts to distribute revenue - I don't know enough about Brave to say whether that's in effect immediately or something they plan to do in the future.
BAT tokens are already tradable on exchanges, and currently trading at 3x ICO price. The pricing is primarily speculative
It's possible we see companies in the future that exist solely on the blockchain and don't have a legal entity, and tokens effectively are shares in the company, with voting rights. But that's not what we have today.