This is exactly why I don't think ETH has any long term value aside from its potential to unseat bitcoin as the dominant cryptocurrency. I just don't imagine even an ideal world of distributed applications running on ethereum to be worth billions. The demand for obnoxiously slow running distributed/trustless applications is extremely small in the scheme of things. Most real world cases in need of "programmable money" will just deposit to a centralized site where all the programmatic features will execute and then distribute back the result. Trustlessness just isn't that valuable outside of the currency itself.