It definitely has utility but it is at the same time overhyped IMO. Some examples of utility:

1. Cross-border transfers without needing permission from banks or identification

2. A fungible digital asset you can hoard and nobody can physically take from you if you secure the keys.

3. If you are a business in a gray or black market industry, you can accept payments from customers online without needing permission from payment processors. Many types of businesses are effectively banned by the banking system.

4. It provides a way to obfuscate your wealth which can help protect against asset seizures. Similar to #2.