Absolutely, I think that is called bootstrapping. And certainly Satoshi was keenly aware that his bitcoin needed some form of utility/intrinsic/store of value to make it work as a medium of exchange which was its intended purpose. That is why gold was the primitive choice for MOE, its basic attraction to the human senses was a natural bootstrap, but I don't want to go down the gold rabbit hole....store of value can in some ways be helpful to it establishing itself as a means of exchange.
In his/her thought piece Satoshi suggested that some folk regarding it as a collectors item would serve as the bootstrap - seemed a bit far fetched to me. S/he settled for the rather circular argument that if folk started to use it as a MOE then that of itself would be the utility to bootstrap it as an MOE. Kelleher develops this theme and argues that ultimately the only utility value that bitcoin can have is as an MOE and the only way it can be a sustainable store of value is if it has the underpin of this utility value.
According to my interpretation of JK's argument today's bitcoin price can only be explained as being a speculation that it will ultimately make the grade as an MOE. I suspect that many of the folk dabbling in bitcoin do not bother themselves with such considerations and are simply climbing on a bandwagon out of FOMO. (Not saying you fall into that camp.)