> you could indeed say the same thing about gold

You could not. Exactly because it has some nifty use cases. The jewelry market is what keeps gold stable - it can absorb a small panic and stop it from becoming a large burst and anchors the gold price into a real world quantity.

If you create a store of wealth without any kind of real world anchoring, any small panic would be enough to permanently move its price to any random value. That makes it quite useless for a store wealth.