I don't follow this line of thought.Problem is that Bitcoin was always speculative. It's not a currency. It's simply an asset that people own. They might be able to exchange it for something (unlikely at the moment) so all they can do is buy and sell it just like any other unproductive asset like a limited edition picture.
Bitcoin was designed to be a currency and since it's inception right up to this very day, people use it as such.
In fairness I would say the majority of holders of bitcoin are not using it as a transaction medium every day, but that doesn't mean they are unable to.
Certainly since 2017 when blocks became full we've seen bitcoin use cases change.
But it's a work-in-progress and since Layer2 solutions are basically coming online now, i would expect to see that transactional use case start getting more common.