The one thing I truly don't understand, and hope you can explain - what is the value proposition of crypto in general and Bitcoin in particular?

I get that blockchain can have lots of great use cases, but isn't crypto "currency" basically just something with no intrinsic value (beyond the cost of "mining" it which limits supply but doesn't explain demand), limited use (you can't buy your groceries or pay your mortgage with it), high risk of being scammed (e.g., FTX), and no guarantee (e.g., the US dollar is backed by the US government's ability to tax and the US taxpayer base's ability to pay those taxes)?

From where I sit, as a not-so-well-informed person (at least on this matter), it looks like "greater-fool-theory"-driven bubble.