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If nobody is willing to pay that price, how can you be sure that's the real value?
Indeed. How you measure value? How do you know your value is the objective one?
The bigger question is this framework useful? To say something has an objective value is one thing. Easier case to make. Value is not obvious sometimes.
I believe bitcoin has objective value but that doesn't help others. Just me.
I don't think it's a matter of belief. Bitcoin fulfils these criteria therefore it's objectively valuable, inevitable.
Using this framework in any other context is extremely difficult because outside bitcoin the world is full of noise and obscurity and opacity. I don't think I'm saying anything novel, people use this framework in all of their value judgments innately, it's just complex.
But bitcoin is certain because it's pristine.
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Fair point, subjective value is an opinion, objective value is what something is actually worth, even if nobody alive is willing to pay that price today.
Edit: People in the modern world do not believe, in general, that there is such a thing as objective value, beyond price.