Yeah sure, Bitcoin lacks intrinsic value just the USD lacks intrinsic value. The concepts are just mediums that function as tokens in terms of bartering.
Sure, one can say that USD has the backing of the US government and military force, but BTC has backing too. The community, set up markets, and use as a medium of exchange; not to mention its built-in protocol features such as a ledger/accounting system and double-spend prevention gives BTC a backing in and of itself.
We place value on intellectual design, and innovation. So therein lies BTC's value.
Inherent, innate, inborn, or natural all have the same connotations when we talk intrinsic value. Bitcoin has inherent, innate, inborn, natural or intrinsic properties that make useful, as a trust free decentralised medium of exchange or a unit of account that facilitates the function of a store of value.
To say "Yeah sure, Bitcoin lacks intrinsic value" is to overlook the meaning of intrinsic value.
Yeah sure, Bitcoin lacks physical malleability, but who cares, so does e-mail Skype and binary data.
