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What does "actually worth" mean? It's worth whatever someone currently is willing to pay for it, isn't it?

True value or Real Value are stabilized values in the market directly proportional to usefulness of the commodity or currency. If people wanted this much ETH, it would be worth that much, but saturating the market with that much more ETH would drive prices down. It's like the meteor that was made of Iron that swung by the earth "it's 5 quintillion dollars of iron ore!" well, with simple multiplication that may be so, but the assumption is that this material would be absorbed into an economy that can use it effectively. Nobody is actually going to hand you 5 quintillion dollars for the meteor.

> saturating the market with that much more ETH would drive prices down.

Of course, like with any stock or commodity, the market price is the valuation of the good _for small amounts_ of the good.

yes, but if you add up how much everyone paid for the lost eth it won't be $300MM but it will still be an insane amount of money.

Can you expand on this?

pump and dumps generally don't pump for multiple years.