What do you think the intrinsic value of bitcoin is?
I really don't think that Bitcoin itself has much intrinsic value, I guess one could say that it has value as a hedge against inflation... So like gold.
Ethereum however, uses the blockchain technology in a much more interesting way basically allowing you to pay (at very high rates) for processing power by the miners. While you would never use an ethereum contract to do heavy computation, you can use them to do some really interesting things, such as more complicated derivatives.