I've been thinking on this very thing, lately. The fact that the cryptosphere as a whole really makes no sense whatsoever from a rational, logical investment approach only serves to further support the theory that what we're really doing here is creating a self-fulfilling prophesy.
The predictions of BTC hitting a half a million or a million dollars are what really got me started down this train of thought. I thought to myself, "Why the hell would anyone ever pay a half a million dollars for one bitcoin when there are far better technologies available this very moment?"
This of course leads to the logical conclusion of, "...Because they're willing to pay $14,000 for one bitcoin even though there are far superior technologies available."
None of this really makes any sense whatsoever, and we're riding a wave of speculative investment that will end up making some people very, very wealthy and some people poorer than when they started.
It will be a very interesting day, indeed when the first cryptocurrency overtakes BTC in terms of market capitalization. Breaking that psychological barrier will have some far reaching and dramatic effects on the entire ecosystem.