You have valid points all the way down but I think you’re overlooking the “smart” aspect alt coins bring to the table. Btc has become a store of value while alts are rolling out to manage transactions intended to serve specific functions.

I think the one coin to rule them all theory is also valid but I think it’ll more likely apply to cross chain tokens.

There’s too much development, innovation, and experimentation in this space at present for one to rise above and remain, I think. It’s too early.