Well I think your expectations are wrong, but think of it like this, the end user doesn't care if the work is being done by an L3 cache or a "CPU ram", they could call it a "CPU cache", and as long as it does what they expect it to do they don't care for the specifics.

In this example, bitcoin can be exchanged for goods and services, much like an approved currency,so the end user doesn't care what you call it just that it works,and in that respect bitcoin does work.