Whether or not Bitcoin succeeds long-term, it has opened up the discussion about transferring currency over the internet, and that is a huge step in itself.

Right now transferring money online is very slow, often 2-5 days for ACH transactions. Additionally, it's expensive. Companies like PayPal and Visa have made huge profits by making the process easier, but it's really something we should be able to figure out and turn into an open-source protocol like all the other protocols the internet is built on.

I think your complaint about it not being backed by a large nation is valid - it's very hard to tell how much of the Bitcoin value stems from the bubble and hype and how much is real. A backing nation and a bigger marketplace would really bring it down to Earth.

I don't think there's a "random startup company" involved anywhere though. The Bitcoin protocol was released anonymously and is maintained by a community the same way most open-source technology is. There are a variety of small businesses and startups trying to stake their claim, but they're all providing auxiliary services and exchanges. Bitcoins themselves are based on cryptographic trust, not trust in one entity.