Yes, and there is a simple reason why gold is mostly a non-consumption commodity: because it is more useful as a monetary commodity. It has a distinct combination of physical properties which give it monetary properties. It is durable, malleable, divisible, rare, compact, portable, easily recognizable, and beautiful.

There are many good reasons to use steel instead of gold for flatware, kitchen sinks, and refrigerators, in spite of the fact that steel corrodes and gold does not. This does not make gold "useless", it just means that gold has better uses.

Emeralds are very durable and far more rare than gold, but they are generally unsuitable as a monetary commodity because they are not malleable and easily divisible.

One distinct advantage of gold over bitcoin is that transacting in gold does not require a network connection of any kind, nor even the existence of computers.