[acdha]

That does add some value but it’s fairly weak - people can always choose to switch to something cheaper, capping the maximum - and it adds its own risks: price spikes might leave you unable to perform transactions within your budget.

[hirako2000]

No, people cannot always. Sometimes, often maybe, yes.

Network effect, security, are some of the reasons.

[acdha]

Yes, people can always switch. Unlike a sovereign currency nobody has a legal obligation to use any cryptocurrency, which means everyone is going to assess whether they’d be getting better value using something else.