Isn't the same true of any intellectual property?

A movie can be duplicated indefinitely. There's no guarantee your song will be appreciated as art. I'm not sure why you say you can't print out an image and hang it in your living room; we do that all the time at home.

I've personally never dabbled in NFTs, but I don't think it's fair to ascribe the inherent conflict between information and scarcity uniquely to them.

You don't have to believe in it. You just have to believe someone else will believe in it and be willing to pay a higher price.