No. The "output" of Bitcoin is bigger than that. You focus on a single aspect of the system (processing transaction) and disregard everything else. You fail to look at the big picture, at what the system indirectly creates outside of transactions (helping people escape inflation, and yes redistributing wealth that is donated to charities, etc.) The point is: none of these benefits would exist if Bitcoin/cryptos didn't exist.
Your argument is like saying that "cars are a waste" because one aspect of their operation (engines losing energy as heat) is waste.
No. The "output" of Bitcoin is bigger than that. You focus on a single aspect of the system (processing transaction) and disregard everything else. You fail to look at the big picture, at what the system indirectly creates outside of transactions (helping people escape inflation, and yes redistributing wealth that is donated to charities, etc.) The point is: none of these benefits would exist if Bitcoin/cryptos didn't exist.
Your argument is like saying that "cars are a waste" because one aspect of their operation (engines losing energy as heat) is waste.