To put it very simply bitcoin just sucks. What is one thing bitcoin can do that any other currency can't do besides provide liquidity in trading? Eventually every coin will be liquid as markets are decentralized. So the value of bitcoin depends entirely on centralized exchanges making all coins convertable to btc. Eventually coins will be exchanged without middlemen in decentralized exchanges where btc will have no advantage at all. People who claimed btc would go to $1M were right. Only problem is that by then everyone will be USD millionaires after the dollar collapses.
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I hope so but I think for sentimental and historic reasons Bitcoin may always be the top coin.