Yeah, I kind of get that, but it is still fundamentally a transferred subjective value, compared to the utility of say life-giving, or energy-giving resources like water or oil.
Anyway, that all said I do agree that there is probably some kind of reckoning coming (or to put it in less biblical language, a correction). I think that's more to do with the failure of government to deal with the issues of deregulated financial markets selling toxic debt, rather than the lack of a gold standard though. But as I said, I have a limited understanding.
I understand your confusion. But think of money, whatever it might be shells, wheat, metals, paper, hash functions, as a technology. Like farming, writing, medicine etc money is one of the core features of human development. The utility value derives from it being a good money medium