That's basically replacing regular currency buying a service. The earlier comparison was to commodities and crypto's difficult to value nature.

I won't argue you can't buy goods and services with crypto. You certainly can't produce plastic without oil, but there's nothing that can be made with crypto. It's not a commodity. That's why it's a speculative asset that's hard to value. Sentiment means more to crypto values than downstream values.

In this particular example, if a competitor offered data sharing and shared compute services 100x cheaper than the eth network, I don't think eth value would go down anything close to 100x. If I found a way to turn air into plastic and gas, you can bet oil prices would plunge. If Musk said crypto is dead, prices would plummet.