I think a person's value assignment to bitcoin can certainly be grounded in ideals, and the more "ideal" something is, the more likely it is that many people will find value in it.

But I also think our own understanding of what is ideal is shaped by the people around us. So if everyone around us stops believing in something, it might be harder for us to maintain that belief in contradistinction to those around us.

Lastly, we can consider a thought experiment of what happens if only one person in the world assigns any intrinsic value to Bitcoin. Then, that person would probably own every Bitcoin, and there wouldn't be a market price for Bitcoin because it won't be traded. For all intents and purposes, it would be the "bitcoin goes to zero" scenario. But that doesn't mean it wouldn't hold value for at least one person out there, and the value may be revived once again if someone else decides to assign value to it as well.