Yes, that's correct. Utility in economic transactions "cash" is what drives the value over time. This why we nearly saw Ethereum flip the value on Bitcoin last summer. Heavy use = heavy demand. 

Over time the most useful Cryptos will become the most valuable. Just the dollar was used to buy oil, goods and services. The larger the economics of scale the more value that is accrued. Good money drives out the bad. Unless Bitcoin makes significant upgrades better currencies will drive away slow expensive ones.

Even if lightening network was working 100% today, which is not. What happens if millions of people decide to all close their channels at one time?  Segwit only has 40% adoption rate after one year and blocks are still at 1MB with only tps second. That's not going work.