and that's why its going to survive. Its a bit like the fine art market. Why are the wealthy buying $20m dollar paintings? Because in 5 years it goes to auction for $25m.
Now whether "survive" means anything more than being the preferred currency of illegal dealings and ransomware is the big question. I suspect bitcoin has found its market niche and will stay here as-is. Fiat currency will be as strong as ever and the social and political aspects of cryptocurrency have pretty much failed outside of these tiny use cases.
I see it a bit like the Commodore 64 from the 80s. It wasn't the best home computer, but it was cheap and passable and lasted far longer than anyone should have rightfully assumed. "Good" tech doesn't always win, say the way the Amiga never took off like the C64 did. Sometimes we get stuck with "bad" tech for a while.