BTC is only worth the electricity is costs to mine

Can someone actually explain to me, like I'm 5, why btc would be priced in right now? As far as I can tell the only value comes from scarcity and speculation, which doesn't really link back to any unique real world use case apart from its reputation.

My valuation model comes from: 1)BTC is alike a brand name, 2) it's scarce, 3) it's (mostly) decentralised, and 4) it's secure. However I don't understand why this all offsets the cost of mining and environmental impact of that electricity consumption? How could any POW consensus model blockchain be feasibile when there is many POS projects with also undefeated security? I can see it has some value but a 800B whatever MC is absurd when compared to the real world value some companies bring. Is BTC really worth 1/3 or 1/3of apple? I can't see any way to justify it, can someone provide me with their perspective?

Forgive the edgy title to get clicks