It is just as much a feedback loop as PayPal or the Swift network. Bitcoin is very useful to those who transfer money internationally (I pay 6% on ATM fees in foreign countries), who pay online (no more 3% VISA/MasterCard fee!), who buy things the state does not approve, and anyone who believes money should not be based on debt like our current system is.
It's totally fine not to like it, but it is a system that provides value for many people, and assuming there are more value to be provided from network effect is not a crazy idea (like when a business can have multiple steps in it's supply chain happen on the blockchain).
It's totally fine not to like it, but it is a system that provides value for many people, and assuming there are more value to be provided from network effect is not a crazy idea (like when a business can have multiple steps in it's supply chain happen on the blockchain).