NFTs can only really accrue value from the terms of their issuance. This is actually true for Bitcoin as well—issuance is provably tied to the real economic cost of computation.

As with traditional artwork, the story of the work is what accrues value, not the work itself. You can create a largely undetectable forgery of a Picasso, but you cannot forge the historical record that traces the true work back to Picasso’s paintbrush. NFTs can make this historical record cryptographically secure, at least for the token itself, but whether that means the token should accrue value or not is up to the market.