And who will invest in batteries or other direct useful power usage if burning it through asic's is just making more money?

No one :(

Bitcoin mining becomes less profitable the more people do it.

At some point it gives you exactly as much as you pay for energy to mine.

So if you can store electricity in the batteries for long enough to sell it for more than pruce of purchase then you are better off investing in the battery.

But since batteries are expensive and inefficient, you might be better off investing in the wind turbine or solar panel and mine with it if you can't sell energy to the grid for more money.

It's better than battery because when demand is high it gives energy, but it doesn't have to take energy when demand is low and it keeps itself financially afloat even when there's no high demand for a long time which might kill your battery energy storage enterprise.

I know about at least one pumped storage facility that died because of that.