Sure, and the cost to Hasbro of making monopoly money could scale with its price if there were a market for it. But the inherent value of a monopoly dollar would not be dependent upon that cost.
When you say "the broader cost of bitcoin" you're talking about electricity right? Aside from the important fact that "cost" isn't "value", there are a couple problems with that. First of all, many people are finding arbs in energy (eg, you live or work in a dorm, lab, or other building where don't pay an electric bill) and using free electricity to mine. That provides liquidity/fungibility by contributing to transactions, without incurring any cost to the miner. Second, people and entities with large early reserves of bitcoin have an incentive to mine even when the energy cost is greater than the mining return, because a better functioning bitcoin is more likely to attract further inflows that impact the price upward.
When you say "the broader cost of bitcoin" you're talking about electricity right? Aside from the important fact that "cost" isn't "value", there are a couple problems with that. First of all, many people are finding arbs in energy (eg, you live or work in a dorm, lab, or other building where don't pay an electric bill) and using free electricity to mine. That provides liquidity/fungibility by contributing to transactions, without incurring any cost to the miner. Second, people and entities with large early reserves of bitcoin have an incentive to mine even when the energy cost is greater than the mining return, because a better functioning bitcoin is more likely to attract further inflows that impact the price upward.