Post-bailout Ethereum is not the same currency as pre-bailout, and given that a non-trivial minority (~5%) of miners are mining pre-bailout Ethereum - and the difficulty of mining quickly adjusts - pre-bailout Ethereum will actually be a viable currency from a technical perspective, in the sense that it can be sent and received.

From a social perspective, it's hard to be sure quite yet; we'll see in the coming days and weeks whether or not people decide that pre-bailout Ethereum has value or not (and equally, post-bailout Ethereum).