Do you agree that some things have value in isolation,
in addition to their trade or network value?
If so, perhaps you can also agree that making that distinction might be useful, at least in certain situations.
In particular, the post that started this thread compared banning bitcoin to banning heroin. I believe heroin's value is driven almost entirely by its ability to get you high. The end users don't care if it's white, blue, red, or covered in Louis Vuitton logos as long as they are confident that it gets them high in that particularly lovely heroin way. When you ban it, you don't interfere at all with the fact that heroin gets you high. Heroin does that job as well as ever. By banning it, you make it harder to obtain, but you don't make having it any less desirable for the addict.
On the other hand, when you ban bitcoin, you do interfere with the thing that's useful about Bitcoin: trading it. Not only do you make it harder for somebody to obtain BTC, you make having BTC less desirable, because it's harder to redeem it for a product or another currency.
Maybe just speaking for myself here, but it wouldn't be as valuable to me if I couldn't go to a "legit" company like Coinbase to facilitate turning it into something I can use to buy a car or a house. I suspect a lot of people feel the same way so overall that lack of buying interest would be pretty strong downward pressure on the market price.