Like asking if oxygen is more valuable than air. Air ain't air without oxygen, and the blockchain ain't nothing without a valuable token.
exactly, bitcoin and its blockchain is inter connected, and the value of one without the other is nothing.
But if OP is asking are there many more tech. inovations that can be built on blockchain then definetly yes, but bitcoin will always be there as a token of value for the entire network,
unless someone creates new blockchain(altchain), but then one would loose infrastructure and security bitcoin allready has, so i dont see a point in doing that.
cheers