This dances around (but doesn't fall prey to) the old erroneous human idea that "things have value because of some intrinsic quality they possess".

Marx said: "it has value because of the labor that produced it!",

Adam Smith said (the same) but also "It has value because of how much it cost to produce!".

The reality is that bitcoin, like all things, is worth what people pay for it. That is what it is worth, that is it's correct price. Might everyone —idk— decide it's racist one day and have BTC drop to $0 ? YES. The same is true of gold.

Bitcoin has scarcity, for now (I wont speculate on future computers). That's enough. Thinking about "what is backing it???" is going to confuse you about reality.