<< the value of it should be close to $1 or less.

Value ( and by extension price ) of anything is what people are willing to pay for it. Some digital cards in a Blizzard game were purchased for thousands of dollars. There is some digital real estate that was purchased for millions. We can argue all day long whether it makes sense and what the value should be, but that is the wrong perspective to begin with.

<< will never give dividends

Even now I can easily point to stocks that never paid dividends.

<< it's a pyramid scheme

At this point, it is a pyramid scheme the same way US dollar is a pyramid scheme.