What I appreciate in your discussion is that you are willing to question the regression theorem not as an article of faith but as a theoretical construct that should withstand logical and empirical scrutiny. That is something far too many adherents to Austrian theory avoid even though Mises himself grounded his work in praxeology which demands internal consistency.

The real point of tension is the fact that value is subjective and yet the regression theorem imposes a staging requirement as if subjective value cannot simply originate in the anticipation of monetary use. If I am aware of the concept of money and understand that something can serve as a medium of exchange there is nothing in praxeology that forbids me from valuing an entirely novel item purely for its potential as money. That is what Bitcoin demonstrates in practice. The value at inception came neither from its commodity characteristics nor from established utility outside monetary exchange. It came from the expectation held by early adopters that it could serve as money. That expectation alone was sufficient to drive use and valuation.