[nybble41]

That last point ("can set fire to it at any time") is wrong, at least for the many NFTs which use decentralized content-addressed hosting such as IPFS. Or even without the hosting, as long as the NFT identifies the content in sufficient detail—a hash is best but a plain-English description can also work. You just need to save the content yourself so it doesn't disappear if the original host shuts down. No matter what the seller does you'll still have your certificate.

I mostly agree regarding the limited practical value of most art NFTs, but then you could say the same about signed & numbered physical prints which are otherwise indistinguishable from their unsigned/unnumbered (but cheaper) equivalents—yet people pay a premium for those too.

NFTs are pretty general, so one could associate them with licensing or something like a VIP / backstage pass or rewards club membership. In the absence of these things, however, what you're mostly buying is the digital equivalent of the artist's autograph. Which isn't exactly nothing, but I still have a hard time justifying the prices many of these NFTs trade at.