...and now meme coins. All of them designed to take in solid crypto assets and produce sh*ty ones, if anything at all, for the most part and for most people.

Personally I think a lot of people who owns BTC are gambling memes. This cycle is characterized by greed, and that's why the market looked chaotic. Look at the number of people that bought Trump, I'm certain a percentage of them moved funds from BTC. Personally alts is not problem, the greed that comes with memes is the problem.